Stocks Generating Improved Relative Strength: Hubbell
Hubbell had its Relative Strength (RS) Rating upgraded from 69 to 72 Thursday -- a welcome improvement, but still below the 80 or higher score you prefer to see.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matched up against all other stocks.
History shows that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves. See if Hubbell can continue to show renewed price strength and clear that threshold.
While now is not an ideal time to jump in, see if the stock goes on to form a base and break out.
In terms of fundamentals, the company has posted two quarters of increasing earnings growth. Sales growth has also increased over the same time frame.
Hubbell earns the No. 7 rank among its peers in the Electrical Power/Equipment industry group. Generac and Regal Beloit are also among the group's highest-rated stocks.