Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Watts Water (WTS)
Headquartered in North Andover, MA, Watts Water Technologies, Inc. designs, manufactures and sells various water safety and flow control products to promote safety, energy efficiency, and water conservation for commercial and residential buildings. The company reports its business under three geographic segments: Americas (75% of total revenues in second-quarter 2024), Europe (19.1%) and APMEA consisting of Asia-Pacific, the Middle East and Africa (5.9%).
WTS is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 5.3% year-over-year for the current fiscal year, with sales growth of 9.8%.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $8.71 per share. WTS boasts an average earnings surprise of 9.4%.
Watts Water is also cash rich. The company has generated cash flow growth of 12.6%, and is expected to report cash flow expansion of 14.7% in 2024.
Investors should take the time to consider WTS for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report