Parker Hannifin saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 78 to 82.
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This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
Parker Hannifin is trying to complete a consolidation with a 718.44 buy point. See if the stock can break out in volume at least 40% above average.
In terms of fundamentals, Parker Hannifin has posted two quarters of rising earnings growth. Top line growth has been a different story, coming in at -2% in the latest report.
The company earns the No. 6 rank among its peers in the Machinery-General Industrial industry group. Badger Meter, Power Solutions Intl 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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