Are You Looking for a Top Momentum Pick? Why ABB (ABBNY) is a Great Choice

16.05.24 18:00 Uhr

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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.Below, we take a look at ABB (ABBNY), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. ABB currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.You can see the current list of Zacks #1 Rank Stocks here >>>Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for ABBNY that show why this industrial automation company shows promise as a solid momentum pick.A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.For ABBNY, shares are up 4.46% over the past week while the Zacks Manufacturing - Electronics industry is up 3.41% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 16.56% compares favorably with the industry's 9.59% performance as well.Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of ABB have risen 16.88%, and are up 44.39% in the last year. On the other hand, the S&P 500 has only moved 5.91% and 30.04%, respectively.Investors should also pay attention to ABBNY's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. ABBNY is currently averaging 188,750 shares for the last 20 days.Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with ABBNY.Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost ABBNY's consensus estimate, increasing from $2.05 to $2.09 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.Bottom LineGiven these factors, it shouldn't be surprising that ABBNY is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep ABB on your short list.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 ABB Ltd (ABBNY): Free Stock Analysis ReportTo read this article on click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Quelle: Zacks

Nachrichten zu ABB (Asea Brown Boveri)

Analysen zu ABB (Asea Brown Boveri)

18.06.2024ABB (Asea Brown Boveri) HoldJefferies & Company Inc.
05.06.2024ABB (Asea Brown Boveri) KaufenDZ BANK
23.05.2024ABB (Asea Brown Boveri) Sector PerformRBC Capital Markets
13.05.2024ABB (Asea Brown Boveri) HoldJefferies & Company Inc.
02.05.2024ABB (Asea Brown Boveri) BuyGoldman Sachs Group Inc.
05.06.2024ABB (Asea Brown Boveri) KaufenDZ BANK
02.05.2024ABB (Asea Brown Boveri) BuyGoldman Sachs Group Inc.
18.04.2024ABB (Asea Brown Boveri) KaufenDZ BANK
01.02.2024ABB (Asea Brown Boveri) KaufenDZ BANK
30.11.2023ABB (Asea Brown Boveri) BuyGoldman Sachs Group Inc.
18.06.2024ABB (Asea Brown Boveri) HoldJefferies & Company Inc.
23.05.2024ABB (Asea Brown Boveri) Sector PerformRBC Capital Markets
13.05.2024ABB (Asea Brown Boveri) HoldJefferies & Company Inc.
02.05.2024ABB (Asea Brown Boveri) NeutralUBS AG
02.05.2024ABB (Asea Brown Boveri) HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
23.07.2021ABB (Asea Brown Boveri) UnderweightMorgan Stanley
22.07.2021ABB (Asea Brown Boveri) UnderperformJefferies & Company Inc.
07.07.2021ABB (Asea Brown Boveri) UnderperformJefferies & Company Inc.
28.04.2021ABB (Asea Brown Boveri) SellDeutsche Bank AG
28.04.2021ABB (Asea Brown Boveri) UnderweightMorgan Stanley

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für ABB (Asea Brown Boveri) nach folgenden Kriterien zu filtern.

Alle: Alle Empfehlungen

Buy: Kaufempfehlungen wie z.B. "kaufen" oder "buy"
Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"
Sell: Verkaufsempfehlungn wie z.B. "verkaufen" oder "reduce"