Xerox Holdings Corporation (XRX) is a Top-Ranked Momentum Stock: Should You Buy?
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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.
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 #1 (Strong Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 0.9% over the past one week and up 11.8% over the past four weeks. XRX has gained 10.9% in the last one-year period as well. Looking at trading volume, an average of 2,101,213 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.50 to $2.27 per share. XRX boasts an average earnings surprise of 64.8%.
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
