Looking for FTSE 250 momentum shares? Here are 2 on my radar today!

These FTSE 250 stocks are soaring right now. And Royston Wild believes their share prices could be heading to the moon!

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I’m thinking about loading up on these top FTSE 250 stocks today. Here’s why.

Vistry Group

The outlook for the housing market remains very uncertain in 2024. Mortgage rates are edging higher again as swap rates increase, putting pressure on buyer finances. The economic picture in Britain is also pretty glum.

But industry news has largely been pretty encouraging in recent weeks. Latest trading numbers from Persimmon today (12 March), for instance, show a sustained pick-up in homebuyer demand since the end of last year.

The Footsie firm’s weekly sales per outlet averaged 0.41 in 2023’s fourth quarter, up from 0.28 in the same 2022 period. And the sales rate continued rising in the first 10 weeks of 2024, to 0.59 from 0.54 a year earlier.

I think now could be a good time to increase my stake in the housebuilding sector. And Vistry Group (LSE:VTY) is near the top of my shopping list.

Why this particular company? I like its decision to focus increasingly on partnerships with local authorities and housing associations going forwards. This has the potential to supercharge sales volumes and, by extension, profit margins over the long term.

I’m also encouraged by the depth of its order book that provides solid earnings visibility. This stood at £4.5bn as of December, up from £4bn a year earlier.

The FTSE 250 firm trades on a forward price-to-earnings (P/E) ratio of 12.9 times for 2023. This is just above the index’s average of around 12 times. And it could lead to fresh share price weakness if the industry’s recent recovery runs out of steam.

As I say, I already hold shares in British housebuilders. So I’ll carefully consider increasing my position before pulling the trigger. But I’d definitely open a position in Vistry if I didn’t already have skin in the game.

Games Workshop

Fantasy gaming giant Games Workshop (LSE:GAW) is enjoying fresh share price momentum in recent days. I’m an existing investor here too, and am looking to increase my stake when I next have cash to invest.

Sales here have boomed over the past decade as the tabletop gaming revolution has continued. Lines like its Warhammer 40,000 system — largely considered to be the hobby’s gold standard — are selling in increasingly large volumes all over the globe.

Analysts are expecting demand for these games systems and associated miniatures to remain white hot too. Research house Aritzon expects the board game market to expand at an annualised rate of 11.8% between 2023 and 2028, with strategy and war-based games “anticipated to grow at the fastest rate in the forecast period.”

My only fear is that the FTSE 250 firm may fail to keep up with demand. Indeed, its brand-new Warhammer: The Old World product sold out within hours of going on sale in January, while its Leviathan set experienced a similar surge in orders last summer.

But the company plans to build a fourth factory at its Nottingham site to address these problems and drive future growth. All things considered, Games Workshop is one of my favourite stocks to consider buying right now.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Royston Wild has positions in Games Workshop Group Plc and Persimmon Plc. The Motley Fool UK has recommended Games Workshop Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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