MEKO AB (LTS:0HDJ) Momentum Rank : 8 (As of May. 05, 2024)

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What is MEKO AB Momentum Rank?

MEKO AB has the Momentum Rank of 8.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of MEKO AB's Momentum Rank

For the Auto Parts subindustry, MEKO AB's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MEKO AB's Momentum Rank Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, MEKO AB's Momentum Rank distribution charts can be found below:

* The bar in red indicates where MEKO AB's Momentum Rank falls into.

MEKO AB Momentum Rank Related Terms

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MEKO AB (LTS:0HDJ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » MEKO AB (LTS:0HDJ) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MEKO:Sweden

Address

Solnavagen 4, 11th Floor, Box 19542, Stockholm, SWE, SE-104 32

Website

https://www.meko.com

Meko AB functions in the car aftermarket, operating car service chains, and wholesale operations. It offers spare parts and accessories to affiliated workshops, other workshops, other business-to-business customers, and car owners. The company conducts business through segments: Denmark, Finland, Poland/the Baltics, Sweden/Norway, and Sorensen og Balchen (Norway). It generates maximum revenue from Sweden/Norway. Affiliated workshops operate under the company's brands: BilXtra, MECA Car Service, Mekonomen Bilverstad, MekoPartner, and Speedy, among others.

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