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Here's Why ITT (ITT) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

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.

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ITT (ITT)

Headquartered in the New York City, ITT Inc. is a global multi-industry leader in high-technology engineering and manufacturing projects. It engages in the design, manufacture and sale of a wide range of engineered products and services.

ITT boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of ITT has seen some interesting price action recently; the stock is down 2.9% over the past one week and up 1.4% over the past four weeks. And in the last one-year period, ITT has gained 55%. As for the stock's trading volume, 364,985.81 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. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $5.79 per share. ITT boasts an average earnings surprise of 7%.

Investors should take the time to consider ITT for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ITT Inc. (ITT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research