Ventia Services Group (ASX: VNT) stocks recently earned a TipRanks Smart Score “Perfect 10”. The maintenance services company joins the club, along with other recent additions to the Australian roster, including Lifestyle Communities Ltd (ASX: LIC), Telstra Corporation Limited (ASX:TLS) and Medibank Private Ltd. (ASX: MPL).
What does TipRanks “Perfect 10” smart score mean?
TipRanks offers a variety of information and tools to help investors with their due diligence when looking for the optimal stocks to buy for the long term. The Smart Score tool ranks stocks on a scale of 1 to 10, assessing their potential to underperform or outperform the market. Stocks with a “Perfect 10” Smart Score have historically outperformed the market.
Behind Ventia’s favorable TipRanks information
Ventia provides essential infrastructure maintenance services to customers in Australia and New Zealand. It serves public and private customers, in areas such as the maintenance of transport networks and oil drilling platforms.
In a recent business update, Ventia said it was weathering macro challenges well. He said record levels of inflation, a tight labor market and bad weather have not negatively impacted demand for essential maintenance services.
Additionally, Ventia earned the highest Smart Score following its recent addition to the S&P/ASX 300 Index. Inclusion in the index can boost demand and prices for stocks, such as Ventia, because funds that follow the index add the stock to their portfolios.
Ventia Services stock price forecast
Ventia stock has gained over 24% since the start of 2022. According to TipRanks analyst rating consensus, Ventia stock is a strong buy. Ventia’s average share price forecast of AU$2.87 implies more than 15% upside potential.
Ventia has its next dividend payment date set for October 7. The stock currently offers an above-average dividend yield of 3.42% and a modest payout ratio of around 6.3%.