Shares of aerospace/defense systems contractor Curtiss-Wright are hitting fresh all-time highs. Reflecting that strength, the Relative Strength (RS) Rating of Curtiss-Wright stock topped a key benchmark Thursday, with an increase from 79 to 82. On top of that it's still in the buy zone.
Curtiss-Wright Stock Rides Into The Profit Zone
The upgraded 82 RS Rating places Curtiss-Wright stock squarely in the top 20% of all stocks for price performance over the past year. It's a notable achievement because market research shows that top-performing stocks tend to have an RS Rating over 80 as they begin their biggest runs.
Charlotte, N.C.-area based Curtiss-Wright has the look of a conglomerate and its small-cap size indicates it has room to grow. It makes and overhauls precision components for defense, commercial, industrial and energy markets. The company traces its name to the Wright brothers and it has a strong focus on the aerospace market. Among other recent developments, the company in June announced it received a $24 million contract to provide flight test instrumentation for the F-35 fighter jet technology refresh program.
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Curtiss-Wright stock is still inside a buy range after clearing a 182.55 buy point in a flat base on June 30 after a series of stairstep advances. It's continued rising from there, hitting fresh highs. The proper buying range extends to 5% above the initial entry. Thursday afternoon Curtiss-Wright was up 0.44% to 184.47 on a generally down day for the markets.
Solid But Not Spectacular Fundamentals
The company's fundamentals have been solid but not exceptional. First quarter earnings grew 17% year over year to $1.53 per share. The prior two periods its EPS rose 10% and 22%, respectively. Sales in its most recent quarter grew 13% to $631 million. The company says on its website it will hold a news conference to discuss Q2 results the morning of Aug. 3.
Among other key ratings Curtiss-Wright stock has an outstanding 93 Composite Rating, out of 99. Its 90 Earnings Per Share Rating puts it in the top 10% of companies for profit growth the past three years, with special emphasis on the two most recent quarters. It also boasts an A- Accumulation/Distribution Rating, on an A+ to E scale with A+ tops. The A- rating indicates mutual funds, ETFs and other institutional investors are loading up on its stock.
Curtiss-Wright stock holds the No. 4 rank among its peers in the Aerospace/Defense industry group. Hexcel and Heico are also among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
The unique IBD Relative Strength Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
