Best Momentum Stocks to Buy for May 18th

Zacks Equity Research Published on May 18, 2023

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, May 18th:

Carrols Restaurant Group, Inc. (TAST - Free Report) : This restaurant company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 55.9% over the last 60 days.

Carrols’ shares gained 173.6% over the last three months compared with the S&P 500’s advance of 1.8%. The company possesses a Momentum Score of A.

Shake Shack Inc. (SHAK - Free Report) : This restaurant franchise has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 550% over the last 60 days.

Shake Shack’s shares gained 22.6% over the last three months compared with the S&P 500’s advance of 1.8%. The company possesses a Momentum Score of A.

Encore Wire Corporation (WIRE - Free Report) : This electrical building wires and cables company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 15.6% over the last 60 days.

Encore Wire’s shares gained 12.1% over the last six months compared with the S&P 500’s advance of 4.9%. The company possesses a Momentum Score of A.

See the full list of top ranked stocks here

Learn more about the Momentum score and how it is calculated here.

Zacks Reveals ChatGPT "Sleeper" Stock

One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.

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