Despite Fast-paced Momentum, Patterson-UTI (PTEN) Is Still a Bargain Stock

Core Insights - Momentum investing contrasts with the traditional "buy low and sell high" strategy, focusing instead on "buying high and selling higher" to capitalize on fast-moving stocks [1] - Identifying the right entry point for momentum stocks can be challenging, as they may lose momentum if future growth does not justify their high valuations [1] Group 1: Momentum Investing Strategy - Investing in bargain stocks that have recently shown price momentum can be a safer approach [2] - The Zacks Momentum Style Score is useful for identifying strong momentum stocks, while the 'Fast-Paced Momentum at a Bargain' screen helps find attractively priced fast-moving stocks [2] Group 2: Patterson-UTI (PTEN) Analysis - Patterson-UTI (PTEN) has shown a price increase of 4.7% over the past four weeks, indicating growing investor interest [3] - PTEN gained 2.8% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe [4] - The stock has a beta of 1.99, suggesting it moves 99% higher than the market in either direction, indicating fast-paced momentum [4] Group 3: Valuation and Earnings Estimates - PTEN has a Momentum Score of B, suggesting it is an opportune time to invest in the stock [5] - The stock has a Zacks Rank 2 (Buy) due to upward trends in earnings estimate revisions, which attract more investor interest [6] - PTEN is trading at a Price-to-Sales ratio of 0.61, indicating it is relatively cheap at 61 cents for each dollar of sales [6] Group 4: Additional Investment Opportunities - PTEN is not the only stock that meets the 'Fast-Paced Momentum at a Bargain' criteria; there are several other candidates worth considering [7] - Investors can explore over 45 Zacks Premium Screens tailored to different investing styles to identify potential winning stocks [8]