On Thursday, SPX Technologies got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96.
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The revised score means the stock currently tops 96% 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 has now climbed above a proper buy zone after breaking out from a 157.83 entry in a cup with handle.
The stock sports a 93 EPS Rating, which means its recent quarterly and annual earnings growth tops 93% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company reported 16% earnings-per-share growth for Q2. Revenue growth climbed 10%, up from 4% in the prior report. That marks one quarter of rising revenue growth.
SPX Technologies earns the No. 5 rank among its peers in the Machinery-General Industrial industry group. DXP Enterprises 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.
