Why Plexus (PLXS) is a Top Momentum Stock for the Long-Term

Zacks
2024-10-30

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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.

Is This 1 Momentum Stock a Screaming Buy Right Now?

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.

Plexus (PLXS)

Founded in 1979, Neenah, WI. -based Plexus Corp. is a leading provider of electronic contract manufacturing services to original equipment manufacturers (OEMs) in a wide range of industries, including Healthcare/Life Sciences, Industrial and Aerospace/Defense market sectors.

PLXS sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 7.8% and up 7.9% over the past one-week and four-week period, respectively, and Plexus has gained 47.8% in the last one-year period as well. Additionally, an average of 138,356.05 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2025. The Zacks Consensus Estimate has increased $0.40 to $6.81 per share. PLXS boasts an average earnings surprise of 10.3%.

Investors should take the time to consider PLXS for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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