Yahoo Finance Why Owens Corning (OC) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Owens Corning (OC)
Owens Corning is a world leader in building materials systems and composite solutions. Since its inception in 1938, the company has evolved as a market-leading innovator of glass fiber technology. Its products include glass fiber that is used to support composite materials for transportation, electronics, marine, infrastructure, wind energy and other high-performance markets for insulation as well as roofing for residential, commercial and industrial applications.
OC boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of Owens Corning has seen some interesting price action recently; the stock is down 2.1% over the past one week and up 8.2% over the past four weeks. And in the last one-year period, OC has gained 55.6%. As for the stock's trading volume, 643,787.38 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For OC, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.29 to $15.37 per share for 2024. OC boasts an average earnings surprise of 17.4%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding OC to their portfolios.
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Owens Corning Inc (OC) : Free Stock Analysis Report
