The Relative Strength (RS) Rating for ESAB climbed into a new percentile Thursday, with an increase from 79 to 82.
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This exclusive rating from Investor's Business Daily measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best stocks tend to have an 80 or higher RS Rating as they launch their biggest runs.
ESAB is trying to complete a consolidation with a 135.97 buy point. See if the stock can break out in volume at least 40% above average. Be aware that it's a third-stage base. Such patterns do sometimes lead to significant gains, but they're more likely to fail than first- or second-stage consolidations.
While earnings growth dropped in the company's most recent performance report from 13% to 4%, sales grew -2%, up from -3% in the previous report.
ESAB holds the No. 14 rank among its peers in the Machinery-General Industrial industry group. Power Solutions Intl, Badger Meter and ESCO Technologies 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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