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

Zacks Equity Research
·2 min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

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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Scotts Miracle-Gro (SMG)

Based in Marysville, OH, The Scotts Miracle-Gro Company is a leading producer and marketer of branded garden and consumer lawn products. The company makes, markets and sells garden and lawn products in various categories including Lawn Care, Gardening and Landscape, Hydroponics, Controls and Marketing Agreement.

SMG sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is down 2.8% and up 8.8% over the past one-week and four-week period, respectively, and Scotts Miracle-Gro has lost 3.2% in the last one-year period as well. Additionally, an average of 746,853.63 shares were traded over the last 20 trading sessions.

Momentum investors also pay close attention to a company's earnings. For SMG, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $2.65 per share for 2024. SMG boasts an average earnings surprise of 3.4%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding SMG 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

The Scotts Miracle-Gro Company (SMG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research