On Friday, Ferguson Enterprises received a positive adjustment to its Relative Strength (RS) Rating, from 78 to 82.
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IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating of above 80 as they begin their biggest price moves.
Ferguson Enterprises is now considered extended and out of buy range after clearing a 225.63 buy point in a first-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Ferguson Enterprises saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -13% to 8%. Revenue rose from 3% to 4%. Keep an eye out for the company's next round of numbers on or around Sep. 16.
Ferguson Enterprises earns the No. 9 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Acuity, Armstrong Wrld Ind and LSI Industries 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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