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

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

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.

Carrier Global (CARR)

Palm Beach Gardens, FL-based Carrier Global is a provider of advanced heating, ventilation, refrigeration, air conditioning, fire, security and building automation technologies. The company completed its Initial Public Offering (“IPO”) in April 2020.

CARR sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 12.1% and up 2.9% over the past one-week and four-week period, respectively, and Carrier Global has gained 44.3% in the last one-year period as well. Additionally, an average of 4,318,699.50 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for CARR, while the Zacks Consensus Estimate has increased $0.02 to $2.83 per share. CARR also boasts an average earnings surprise of 11.5%.

CARR should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Carrier Global Corporation (CARR) : Free Stock Analysis Report

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