Here's Why Watts Water (WTS) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
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.
Watts Water (WTS)
Headquartered in North Andover, MA, Watts Water Technologies, Inc. designs, manufactures and sells various water safety and flow control products to promote safety, energy efficiency, and water conservation for commercial and residential buildings. The company reports its business under three geographic segments: Americas (70.6% of total revenues in fourth-quarter 2023), Europe (23.4%) and APMEA consisting of Asia-Pacific, the Middle East and Africa (6%).
WTS is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 1% over the past one week and up 0.8% over the past four weeks. WTS has gained 14.6% in the last one-year period as well. Looking at trading volume, an average of 151,177.91 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 WTS, while the Zacks Consensus Estimate has increased $0.26 to $8.56 per share. WTS also boasts an average earnings surprise of 13.5%.
Investors should take the time to consider WTS for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report