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

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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Core Laboratories (CLB)

Founded in 1936, Amsterdam, Netherlands-based Core Laboratories N.V. is an oilfield services company, operating in more than 50 countries. The firm deals with providing reservoir management and production enhancement services to the oil and gas companies. Geographically, the company has its operations in the United States, Europe, Africa, Middle East, Asia Pacific, Canada, Russia, Latin/South America. Notably, Core Labs generated revenues of $509.8 million in 2023.

CLB is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 5% over the past one week and up 11.9% over the past four weeks. CLB has lost 24.9% in the last one-year period as well. Looking at trading volume, an average of 346,023.09 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, one analyst revised their earnings estimate higher in the last 60 days for CLB, while the Zacks Consensus Estimate has increased $0 to $0.95 per share. CLB also boasts an average earnings surprise of 1.9%.

CLB 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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Core Laboratories Inc. (CLB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research