Macy's (M) 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] Company Overview: Macy's (M) - Macy's 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] Performance Metrics - Over the past week, Macy's shares increased by 11.13%, outperforming the Zacks Retail - Regional Department Stores industry, which rose by 9.57% [5] - In the last month, Macy's shares rose by 8.24%, while the industry saw a slightly higher increase of 9.84% [5] - Over the past three months, Macy's shares have risen by 31.81%, and over the last year, they are up 34.17%, significantly outperforming the S&P 500, which increased by 6.55% and 14.51% respectively [6] Trading Volume - Macy's has an average 20-day trading volume of 6,790,960 shares, which is a useful indicator of market interest and price movement [7] Earnings Outlook - In the past two months, three earnings estimates for Macy's have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $1.96 to $2.00 [9] - For the next fiscal year, three estimates have also moved upwards, indicating positive sentiment regarding future earnings [9] Conclusion - Given the strong performance metrics and positive earnings outlook, Macy's is positioned as a promising investment opportunity with a Momentum Score of A [10]