Terex saw its IBD SmartSelect Composite Rating jump to 98 Wednesday before the open, up from 93 the day before.
The upgrade means the stock is now outperforming 98% of all other stocks in terms of key performance metrics and technical strength. The market's biggest winners often have a 95 or higher score in the early stages of a new price run, so that's a good item to have on your checklist when looking for the best stocks to buy and watch.
Terex has now climbed above a proper buy zone after clearing the 58.85 entry in a cup with handle twice. After the first move up it gave it all back. Despite today's market action, the stock closed in the mid-range. So once again it is out of buying range. Look for another pullback that might offer a buying opportunity.
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The stock earns an 85 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 85% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
TEX Earnings
The company just reported a 120% earnings gain for Q2. That means it's now delivered two straight quarters of rising EPS growth. Sales growth rose 30%, up from 23% in the prior report.
Terex earns the No. 2 rank among its peers in the Machinery-Construction/Mining industry group. Caterpillar is the No. 1-ranked stock within the group.
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