SPX Technologies saw an improvement in its IBD SmartSelect Composite Rating Monday, from 93 to 97.
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The upgrade means the stock is now outpacing 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
SPX Technologies is now out of buy range after clearing the 157.83 buy point in a cup with handle.
The stock sports a 93 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 93% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q2, the company posted 16% EPS growth. Revenue growth increased 10%, up from 4% in the prior report. That marks one quarter of increasing revenue gains.
SPX Technologies holds the No. 3 rank among its peers in the Machinery-General Industrial industry group. Power Solutions Intl is the top-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.
