Why Allstate (ALL) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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?
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.
Allstate (ALL)
Founded in 1931 and headquartered in Northbrook, IL, The Allstate Corporation is the third-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the U.S. The company also provides a range of life insurance and investment products to its diverse customer base. It provides insurance products to approximately 16 million households through more than 12,000 exclusive agencies and financial specialists in the U.S. and Canada.
ALL is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 5.5% over the past one week and up 1.5% over the past four weeks. ALL has gained 50.9% in the last one-year period as well. Looking at trading volume, an average of 1,468,459.25 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For ALL, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $15.24 per share for 2024. ALL boasts an average earnings surprise of 142.7%.
Investors should take the time to consider ALL for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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The Allstate Corporation (ALL) : Free Stock Analysis Report