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?
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.
Wolverine World Wide (WWW)
Headquartered in Michigan, Wolverine World Wide, Inc. is engaged in the designing, manufacturing and distribution of a wide variety of casual as well as active apparel and footwear. The company also manufactures children’s footwear and specially designed boots and accessories for industrial purposes. Wolverine is predominantly renowned for a range of footwear styles and designs of shoes, boots and sandals under recognized brand names such as Bates, Chaco, Cat, Hush Puppies, Harley-Davidson, Hytest, Merrell, Saucony, Soft Style, Stride Rite and Wolverine. Non-footwear products of the company mainly include eyewear, watches, gloves, socks, handbags and plush toys.
WWW boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Wolverine World Wide has seen some interesting price action recently; the stock is up 5.5% over the past one week and up 23.9% over the past four weeks. And in the last one-year period, WWW has gained 109.8%. As for the stock's trading volume, 1,713,017.75 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For WWW, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $0.85 per share for 2024. WWW boasts an average earnings surprise of 7.5%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding WWW to their portfolios.
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Wolverine World Wide, Inc. (WWW) : Free Stock Analysis Report