When considering what names to put on your watchlist, look for stocks with an 80 or higher Relative Strength Rating. MakeMyTrip now meets that criteria, with a jump from 77 to 82 Wednesday.
Wall Street expects earnings for the popular India-based travel agency to soar this year. Consensus of analysts polled by FactSet is for MakeMyTrip to report a 56% increase in EPS this quarter, then gains of 58% and 55%. Those would be a significant jump from the 11% increase last quarter.
MakeMyTrip Just Got A Ticket To Ride
Highly ranked MakeMyTrip operates globally, primarily through its website, makemytrip.com. The travel agency is No. 2 in the 17-stock IBD travel and leisure group, ranking only behind No. 1 Booking Holdings. The travel group itself ranks a decent No. 68 on IBD's list of 197 industries.
The bump up for its Relative Strength Rating is no small feat. Over 100 years of market history shows that the market's biggest winners typically have an RS Rating north of 80 as they begin their biggest runs. MakeMyTrip just got a ticket into that group.
Risk Management In The Stock Market: How Much Money To Invest Now
Among its other ratings, MakeMyTrip carries a strong 91 Earnings Per Share Rating, putting it in the top 9% of companies for recent and long-term profit growth. Its B- Accumulation/Distribution Rating shows that ETFs, mutual funds and other institutional investors are buying slightly more of its shares than selling.
MakeMyTrip also sports a terrific 93 Composite Rating. IBD's Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
MakeMyTrip stock is in a 109-days long consolidation pattern. It's trying to complete the consolidation with a 123 entry. See if it can break out in heavy trade. Wednesday it closed at 100.64, down for the day amid the market pullback.
Ranks No. 2 In Industry Group Of 17 Companies
The company reported 11% EPS growth on May 14, to 42 cents per share. Sales rose 21% to $245.5 million. The prior three stanzas its EPS rose 30%, 44% and 11%.
The proprietary IBD Relative Strength Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
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.
Please follow James DeTar on Twitter @JimDeTar
RELATED:
Profit From Short-Term Trends With SwingTrader
Which Stocks Are Showing Rising Relative Strength?
How Relative Strength Line Can Help You Judge A Stock
See Stocks On The List Of Market Leaders With IBD Leaderboard
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
