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Here's Why Smucker (SJM) 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.

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.

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Smucker (SJM)

Headquartered in Orrville, OH, the J.M. Smucker Company is a leading marketer and manufacturer of consumer food and beverage products and pet food and pet snacks in North America. Although majority of the company’s operations are concentrated in the United States, it also operates on an international basis.

SJM sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is up 0.5% and up 1.2% over the past one-week and four-week period, respectively, and Smucker has lost 27.9% in the last one-year period as well. Additionally, an average of 1,213,255.50 shares were traded over the last 20 trading sessions.

Momentum investors also pay close attention to a company's earnings. For SJM, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $9.60 per share for 2024. SJM boasts an average earnings surprise of 7.5%.

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

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The J. M. Smucker Company (SJM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research