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Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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T. Rowe Price (TROW)

Founded in 1937 and headquartered in Baltimore, T. Rowe Price Group, Inc. is a global investment management organization that provides a broad array of mutual funds, sub-advisory services and separate account management for individual and institutional investors, retirement plans and financial intermediaries. Through its subsidiaries, the company manages separate client-focused equity, fixed income and balanced portfolios along with mutual funds. Its client base includes individual investors, defined contribution retirement plans, institutional investors and third-party distributors, among others. The company operates worldwide from the United States, England, Luxembourg, Australia, Hong Kong, Japan and Singapore.

TROW is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are down 1.5% over the past one week and up 2.1% over the past four weeks. TROW has gained 4% in the last one-year period as well. Looking at trading volume, an average of 1,031,610 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, eight analysts revised their earnings estimate higher in the last 60 days for TROW, while the Zacks Consensus Estimate has increased $0.67 to $8.80 per share. TROW also boasts an average earnings surprise of 16.8%.

TROW should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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