Yahoo Finance Element Solutions (ESI) is a Top-Ranked Momentum Stock: Should You Buy?
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
Element Solutions (ESI)
Based in Florida, Element Solutions Inc, earlier known as Platform Specialty Products Corporation, is a leading specialty chemicals provider. The company offers innovative and differentiated solutions to its customers across a vast spectrum of industries including automotive, electronics, communications infrastructure, industrial surface finishing, consumer packaging as well as offshore energy. The company generated sales of $2,333.2 million in 2023.
ESI boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Element Solutions has seen some interesting price action recently; the stock is up 12.5% over the past one week and up 11.2% over the past four weeks. And in the last one-year period, ESI has gained 39.6%. As for the stock's trading volume, 1,536,780.88 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. One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $1.40 per share. ESI boasts an average earnings surprise of 3%.
ESI 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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Element Solutions Inc. (ESI) : Free Stock Analysis Report
