3 Momentum Stocks To Buy As The Market Makes New Highs

Analysts expect ETN’s EPS and revenue to increase 46.7% and 6.8%, respectively, year-over-year to $6.22 and $19.08 billion. It surpassed the Street’s EPS estimates in each of the trailing four quarters. The stock gained 34% over the past six months and 51.3% over the past nine months, and has been recently trading at around $158.05 after hitting its 52-week high of $158.11.

It’s no surprise that ETN has an overall B rating, which equates to Buy in our POWR Ratings system. The POWR Ratings assess stocks by 118 different factors, each with their own weighting. The stock has an A grade for Momentum, and a B grade for Growth, Quality, and Sentiment. Click here to see ETN’s rating for Value and Stability. ETN is ranked #20 of 84 stocks in the A-rated Industrial – Machinery industry.

Mitsubishi Chemical Holdings Corporation (MTLHY)

Headquartered in Tokyo, Japan, MTLHY provides performance products, chemicals, industrial gases, and healthcare products internationally. The company’s performance products include specialty chemicals, functional food materials, inorganic materials, and carbon fiber.

In January, MTLHY announced the establishment of its Image Analysis Center of Excellence (CoE) within the Digital Transformation (DX) Group of the Emerging Technology & Business Development Office (ETBDO). This move is expected to further expand the company’s market reach in the image analysis space.

MTLHY’s total assets increased 3% year-over-year to 5,287.23 billion yen ($48.24 billion) in its fiscal year, ended March 31, 2021. Its cash flow increased 3.3% year-over-year to 467.13 billion yen ($4.26 billion), while its financial income came in at 8.25 billion yen ($75.3 million), representing a 14.5% year-over-year increase. Its comprehensive income increased 33,700.2% year-over-year to 160.55 billion yen ($1.46 billion).

The company’s revenue is expected to increase 9.3% year-over-year to $8.18 billion for the quarter, ending Sept. 30, 2021. Over the past six months, the stock’s price has soared 22.7% and generated 38.7% returns over the past nine months, and it has been recently trading at around $41.60. However, it has been trading below its 52-week high of $42.95, which it hit on June 22, 2021.

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