Why Allstate (ALL) is a Top Momentum Stock for the Long-Term

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.

Allstate (ALL)

Founded in 1931 and headquartered in Northbrook, IL, The Allstate Corporation is the third-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the U.S. The company also provides a range of life insurance and investment products to its diverse customer base. It provides insurance products to approximately 16 million households through more than 12,000 exclusive agencies and financial specialists in the U.S. and Canada.

ALL boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Allstate has seen some interesting price action recently; the stock is up 1.8% over the past one week and up 1.2% over the past four weeks. And in the last one-year period, ALL has gained 53.6%. As for the stock's trading volume, 2,043,074 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.53 to $12.97 per share. ALL boasts an average earnings surprise of 43.9%.

ALL 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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