Why Trane Technologies (TT) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Trane Technologies (TT)
Founded in 1885 and headquartered in Swords, Ireland, Trane Technologies is a designer, manufacturer, seller and servicer of climate control products for heating, ventilation, air conditioning and transport solutions. The company distributes its products through branch sales offices, dealers and distributors in the United States and through subsidiary sales and service companies in other parts of the world. Trane generated around 72% of its revenues from the United States and rest from more than 100 other countries. With no customer accounting for more than 10% of revenues, the company’s business does not depend on any single customer of group of customers.
TT sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 3.1% and up 3.9% over the past one-week and four-week period, respectively, and Trane Technologies has gained 44.9% in the last one-year period as well. Additionally, an average of 789,112.38 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for TT, while the Zacks Consensus Estimate has increased $0.02 to $9.01 per share. TT also boasts an average earnings surprise of 6.8%.
Investors should take the time to consider TT for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Trane Technologies plc (TT) : Free Stock Analysis Report