Yahoo Finance Here's Why Acuity Brands (AYI) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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?
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.
Acuity Brands (AYI)
Headquartered in Atlanta, GA, Acuity Brands, Inc. is the parent company of Acuity Brands Lighting, Inc. (“ABL”) and other subsidiaries. The company manufactures and distributes lighting fixtures and related components that comprise devices such as luminaries, lighting controls, and controllers for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems designed to optimize energy efficiency and comfort for various indoor and outdoor applications.
AYI is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 1.7% over the past one week and up 3% over the past four weeks. AYI has gained 67.4% in the last one-year period as well. Looking at trading volume, an average of 268,916.34 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.58 to $15.37 per share. AYI boasts an average earnings surprise of 11%.
AYI 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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Acuity Brands Inc (AYI) : Free Stock Analysis Report
