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Momentum investing revolves around the idea of following a stock’s recent trend in either direction. In “long context,” investors will be essentially be “buying high, but hoping to sell even higher.” With this methodology, taking advantage of trends in a stock’s price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.<\/p>\n<\/div>\n
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores<\/a>, helps address this issue for us.<\/p>\n<\/div>\n Below, we take a look at Ameris Bancorp (ABCB)<\/strong>, a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.<\/p>\n<\/div>\n It’s also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Ameris Bancorp currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of “A or B” outperform the market over the following one-month period.<\/p>\n<\/div>\n You can see the current list of Zacks #1 Rank Stocks here >>><\/a><\/p>\n<\/div>\n In order to see if ABCB is a promising momentum pick, let’s examine some Momentum Style elements to see if this bank holds up.<\/p>\n<\/div>\n Looking at a stock’s short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.<\/p>\n<\/div>\n For ABCB, shares are up 3.31% over the past week while the Zacks Banks – Southeast industry is up 2.39% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 3.86% compares favorably with the industry’s 2.81% performance as well.<\/p>\n<\/div>\n While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics — such as performance over the past three months or year — can be useful as well. Shares of Ameris Bancorp have increased 1.73% over the past quarter, and have gained 57.01% in the last year. In comparison, the S&P 500 has only moved -4.11% and 32.4%, respectively.<\/p>\n<\/div>\n Investors should also take note of ABCB’s average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now ABCB is averaging 553,123 shares for the last 20 days..<\/p>\n<\/div>\n The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock’s price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with ABCB.<\/p>\n<\/div>\n Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost ABCB’s consensus estimate, increasing from $6.43 to $6.50 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.<\/p>\n<\/div>\n Given these factors, it shouldn’t be surprising that ABCB is a #2 (Buy) stock and boasts a Momentum Score of B. If you’re looking for a fresh pick that’s set to soar in the near-term, make sure to keep Ameris Bancorp on your short list.<\/p>\n<\/div>\n From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.<\/p>\n This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren\u2019t winners but this one could far surpass earlier Zacks\u2019 Stocks Set to Double like Nano-X $TWTR<\/a> Imaging which shot up +129.6% in little more than 9 months.<\/p>\n Free: See Our Top Stock And 4 Runners Up<\/a><\/div>\n Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report<\/a><\/p>\n<\/div>\nSet to Beat the Market?<\/h2>\n
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