On Wednesday, Kennametal received a positive adjustment to its Relative Strength (RS) Rating, from 67 to 73.
Can You Really Time The Stock Market?
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matched up against all other stocks.
History shows that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves. See if Kennametal can continue to rebound and hit that benchmark.
While Kennametal is not near an ideal entry right now, see if it is able to form and break out of a proper consolidation.
Regarding fundamentals, Kennametal has posted rising EPS growth over the last two quarters. Sales growth has been less impressive, coming in at -6% in the latest report. The company is expected to report its next quarterly numbers on or around Aug. 6.
Kennametal earns the No. 5 rank among its peers in the Machinery-Tools & Related industry group. Fastenal is the No. 1-ranked stock 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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