Quanta Services (PWR) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1][2]. Company Overview: Quanta Services (PWR) - Quanta Services currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2]. - The company has a Zacks Rank of 2 (Buy), suggesting a favorable outlook compared to the market [3]. Price Performance - Over the past week, PWR shares have increased by 3.89%, while the Zacks Engineering - R and D Services industry remained flat [5]. - In the last month, PWR's price has risen by 8.75%, outperforming the industry's 3.23% [5]. - For longer-term performance, PWR shares have gained 11.58% over the past quarter and 43.08% over the last year, significantly surpassing the S&P 500's increases of 7.05% and 18.26%, respectively [6]. Trading Volume - The average 20-day trading volume for PWR is 996,870 shares, which serves as a bullish indicator when combined with rising stock prices [7]. Earnings Outlook - In the past two months, three earnings estimates for PWR have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $10.55 to $10.58 [9]. - For the next fiscal year, three estimates have also moved upwards without any downward revisions [9]. Conclusion - Considering the strong momentum indicators and positive earnings outlook, PWR is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a potential candidate for near-term investment [11].