ESAB had its Relative Strength (RS) Rating upgraded from 78 to 84 Friday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best stocks typically have an 80 or better RS Rating as they begin their biggest runs.
ESAB is building a consolidation with a 135.97 buy point. See if the stock can break out in volume at least 40% above average. Keep in mind that it's a later-stage consolidation, and those entail more risk.
The company reported 13% earnings growth in the latest quarterly report, while sales growth came in at -3%. Keep an eye out for the company's next round of numbers on or around May 1.
ESAB earns the No. 10 rank among its peers in the Machinery-General Industrial industry group. ESCO Technologies, Badger Meter and DXP Enterprises are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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