Why Icon PLC (ICLR) is a Top Momentum Stock for the Long-Term
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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?
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.
Icon PLC (ICLR)
Founded in Dublin, Ireland, in 1990, ICON Public Limited Company (“ICON plc”) is a clinical research organization (CRO). The company is a provider of outsourced development and services to pharmaceutical, biotechnology, medical device and government and public health organizations.
ICLR is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 1.6% over the past one week and up 4.8% over the past four weeks. ICLR has gained 35.1% in the last one-year period as well. Looking at trading volume, an average of 727,042.88 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For ICLR, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.12 to $15.09 per share for 2024. ICLR boasts an average earnings surprise of 0.8%.
Investors should take the time to consider ICLR for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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ICON PLC (ICLR) : Free Stock Analysis Report