Allstate (ALL) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Allstate (ALL) - Allstate currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] Performance Metrics - Over the past week, Allstate shares increased by 3.51%, outperforming the Zacks Insurance - Property and Casualty industry, which rose by 2.15% [6] - In the last month, Allstate's shares rose by 11.42%, compared to the industry's 8.77% [6] - Over the past quarter, Allstate shares increased by 9.87%, and over the last year, they gained 52.36%, while the S&P 500 rose by 7.52% and 33.61%, respectively [7] Trading Volume - Allstate's average 20-day trading volume is 1,796,481 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, 9 earnings estimates for Allstate have been revised upwards, while only 2 were revised downwards, leading to an increase in the consensus estimate from $15.20 to$16.07 [10] - For the next fiscal year, 10 estimates have moved upwards with no downward revisions [10] Conclusion - Given the strong performance metrics and positive earnings outlook, Allstate is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a potential candidate for investors seeking short-term gains [11]