The IBD SmartSelect Composite Rating for Cal-Maine Foods rose from 92 to 96 Friday. The shelled egg producer stock has 95 Relative Strength Rating.
The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Since hitting a 52-week high of 59.95 on April 4, Cal-Maine Foods stock has pulled back below its 50-moving average and is now out of buy range. See it the stock forms another pattern for another buying opportunity.
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One weak spot is the company's 45 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 189% increase in earnings for Q3. Top line growth climbed 33%, up from 13% in the prior report. That marks three consecutive reports with increasing revenue gains.
Cal-Maine Foods stock earns the No. 4 rank among its peers in the Food-Meat Products industry group. Pilgrims Pride is the top-ranked stock within the group.
