On Wednesday, Patrick Industries stock earned a positive adjustment to its Relative Strength (RS) Rating, from 79 to 82.
Hone Your Stock-Picking Skills By Focusing On These Factors
This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves.
Is Patrick Industries Stock A Buy?
Patrick Industries stock is still trading within a buying range after climbing above a 98.60 buy point in a double bottom. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity.
While the company's top line growth fell last quarter from 8% to 7%, EPS grew -7%, up from -45% in the prior report. The next quarterly numbers are expected on or around Jul. 31.
Patrick Industries stock earns the No. 2 rank among its peers in the Building-Mobile/Manufacturing & RV industry group. REV Group is the No. 1-ranked stock within the group.
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