Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

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Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company’s financial strength, overall health, and future

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take precedence, so they’ll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

Allegion (ALLE)

Headquartered in Dublin, Ireland, Allegion plc is a leading global provider of security products and solutions for business and domestic purposes. It came into existence on Dec 1, 2013, as a stand-alone public company, after Ingersoll-Rand plc separated its commercial and residential security businesses. Exiting 2023, the company had an employee base of 12,400 people.

ALLE boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Its bottom-line is projected to rise 2.9% year-over-year for 2024, while Wall Street anticipates its top line to improve by 2.5%.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.07 to $7.16 per share. ALLE boasts an average earnings surprise of 10.3%.

Allegion is also cash rich. The company has generated cash flow growth of 7.3%, and is expected to report cash flow expansion of 22.4% in 2024.

Investors should take the time to consider ALLE for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.

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