Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
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.
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.
Deckers (DECK)
Founded in 1973 and headquartered in Goleta, California, Deckers Outdoor Corporation is a leading designer, producer and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities. The company sells products primarily under five proprietary brands — UGG, HOKA, Teva, Sanuk and Other brands (mainly comprised of Koolaburra).
DECK boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Deckers has seen some interesting price action recently; the stock is up 0.8% over the past one week and up 5.3% over the past four weeks. And in the last one-year period, DECK has gained 118.7%. As for the stock's trading volume, 635,903.44 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For DECK, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $3.25 to $26.87 per share for 2024. DECK boasts an average earnings surprise of 32.1%.
Investors should take the time to consider DECK for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report