Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
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.
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?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Ashland (ASH)
Covington, KY-based Ashland Global Holdings Inc. is a leading specialty chemicals company serving a vast range of consumer and industrial markets including automotive, construction, architectural coatings, adhesives, energy, food & beverage and pharmaceutical. The company has a diverse business portfolio with different value propositions, with respect to the markets served. Ashland has a controlling interest in leading consumer-branded lubricant supplier, Valvoline Inc.
ASH is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 0.5% over the past one week and up 1.3% over the past four weeks. ASH has gained 11.8% in the last one-year period as well. Looking at trading volume, an average of 296,025.34 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for ASH, while the Zacks Consensus Estimate has increased $0.14 to $4.47 per share. ASH also boasts an average earnings surprise of 24%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ASH to their portfolios.
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Ashland Inc. (ASH) : Free Stock Analysis Report
