Yahoo Finance Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
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.
United Rentals (URI)
Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of 1,600 rental locations in the United States, Canada, Europe, Australia and New Zealand. Moreover, it operates in 49 U.S. states and every Canadian province. The company offers 4,800 classes of equipment for rent at a total original equipment cost (“OEC”) of $20.6 billion (as of Mar 31, 2024). Equipment rentals represented 84% of total revenues in 2023.
URI boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of United Rentals has seen some interesting price action recently; the stock is down 0.6% over the past one week and up 0.4% over the past four weeks. And in the last one-year period, URI has gained 85.1%. As for the stock's trading volume, 398,801.81 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. Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.79 to $43.71 per share. URI boasts an average earnings surprise of 6%.
Investors should take the time to consider URI for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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United Rentals, Inc. (URI) : Free Stock Analysis Report
