Ensign Group saw its IBD SmartSelect Composite Rating rise to 96 Wednesday, up from 94 the day before.
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The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they start a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Ensign Group broke out earlier, but is now trading right around the prior 157.68 entry from a cup with handle. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form.
The stock has a 95 EPS Rating, which means its recent quarterly and annual earnings growth tops 95% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company reported 20% earnings growth. It has now posted accelerating EPS growth for four consecutive quarters. Sales growth climbed 18%, up from 16% in the prior quarter. The company has now posted increasing growth in each of the last two reports.
Ensign Group earns the No. 1 rank among its peers in the Medical-Long-Term Care industry group. National Healthcare and Pennant Group are also among the group's highest-rated stocks.
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