Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Headquartered in Boise, ID, IDACORP, Inc. is a regulated utility formed in 1998. The company is engaged in the transmission, distribution and sale of electricity services in southern Idaho and eastern Oregon through its primary subsidiary Idaho Power Company (Idaho Power). IDACORP served 633,000 retail customers as of Dec 31, 2023.
IDA sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 1.3% and up 14.2% over the past one-week and four-week period, respectively, and IdaCorp has gained 22.3% in the last one-year period as well. Additionally, an average of 438,137.06 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, two analysts revised their earnings estimate higher in the last 60 days for IDA, while the Zacks Consensus Estimate has increased $0.02 to $5.41 per share. IDA also boasts an average earnings surprise of 4.3%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding IDA to their portfolios.
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IDACORP, Inc. (IDA) : Free Stock Analysis Report
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