Advertisement
Australia markets open in 2 hours 41 minutes

  • ALL ORDS

    8,083.10
    -35.20 (-0.43%)
     

  • AUD/USD

    0.6610
    -0.0011 (-0.17%)
     

  • ASX 200

    7,811.80
    -36.30 (-0.46%)
     

  • OIL

    76.98
    -0.59 (-0.76%)
     

  • GOLD

    2,330.60
    -62.30 (-2.60%)
     

  • Bitcoin AUD

    102,239.93
    -2,383.43 (-2.28%)
     

  • CMC Crypto 200

    1,458.96
    -43.70 (-2.91%)
     

Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

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.

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.

ADVERTISEMENT

Icon PLC (ICLR)

Founded in Dublin, Ireland, in 1990, ICON Public Limited Company (“ICON plc”) is a clinical research organization (CRO). The company is a provider of outsourced development and services to pharmaceutical, biotechnology, medical device and government and public health organizations.

ICLR boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Icon PLC has seen some interesting price action recently; the stock is up 2.1% over the past one week and up 3.1% over the past four weeks. And in the last one-year period, ICLR has gained 57.7%. As for the stock's trading volume, 609,110.44 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 $0.01 to $14.97 per share. ICLR boasts an average earnings surprise of 0.8%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ICLR to their portfolios.

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

ICON PLC (ICLR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research