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Here's Why Trane Technologies (TT) is a Strong Growth Stock

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.

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.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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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 is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 16.6% year-over-year for the current fiscal year, with sales growth of 11%.

Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.09 to $7.10 per share. TT also boasts an average earnings surprise of 3.9%.

Trane Technologies is also cash rich. The company has generated cash flow growth of 4.4%, and is expected to report cash flow expansion of 28.8% in 2022.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, TT should be on investors' short lists.


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Trane Technologies plc (TT) : Free Stock Analysis Report
 
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Zacks Investment Research