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: Heritage Insurance (HRTG) - Heritage Insurance currently holds a Momentum Style Score of B, indicating potential for strong performance [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting it is expected to outperform the market [3] Price Performance - HRTG shares have increased by 25.01% over the past week, significantly outperforming the Zacks Insurance - Property and Casualty industry, which rose by 4.15% [5] - Over the past month, HRTG's price change is 16.58%, compared to the industry's 1.93% [5] - In the last quarter, HRTG shares rose by 37.78%, and over the past year, they have increased by 142.13%, while the S&P 500 only moved 6.44% and 13.97% respectively [6] Trading Volume - HRTG's average 20-day trading volume is 453,453 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, one earnings estimate for HRTG has increased, raising the consensus estimate from $4.10 to $4.69 [9] - For the next fiscal year, two estimates have moved upwards with no downward revisions [9] Conclusion - Considering the strong price performance, positive earnings outlook, and favorable momentum indicators, HRTG is positioned as a solid momentum pick with a 1 (Strong Buy) rating [11]
Here's Why Heritage Insurance (HRTG) is a Great Momentum Stock to Buy