On Friday, Kennametal got a positive adjustment to its Relative Strength (RS) Rating, from 66 to 71.
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IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best stocks often have an 80 or better RS Rating in the early stages of their moves. See if Kennametal can continue to show renewed price strength and clear that threshold.
While the stock is not near an ideal buy point right now, see if it goes on to form and break out from a proper base.
In terms of revenue and profits, Kennametal has posted rising EPS growth in each of the last two reports. Top line growth has been less impressive, coming in at -6% last quarter.
The company earns the No. 6 rank among its peers in the Machinery-Tools & Related industry group. Lincoln Electric, Applied Indl Techs and Fastenal 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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