Why Xerox Holdings Corporation (XRX) is a Top Momentum Stock for the Long-Term
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.
Xerox Holdings Corporation (XRX)
Despite experiencing top-line decline over the years on decreased demand for paper-related systems and products, Norwalk, Connecticut-based Xerox remains a leader in the contractual print and document services market.
XRX is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 2% over the past one week and up 0.8% over the past four weeks. XRX has gained 19.2% in the last one-year period as well. Looking at trading volume, an average of 2,502,841.75 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for XRX, while the Zacks Consensus Estimate has increased $0.05 to $1.70 per share. XRX also boasts an average earnings surprise of 63.9%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding XRX to their portfolios.
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Xerox Holdings Corporation (XRX) : Free Stock Analysis Report
