The IBD SmartSelect Composite Rating for Louisiana Pacific rose from 94 to 96 Tuesday.

The revised score means the stock currently tops 96% 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.

Louisiana Pacific is currently forming a consolidation, with a 76.45 buy point. See if the stock can break out in volume at least 40% higher than normal.

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The stock earns a 98 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 98% of all stocks.

Its Accumulation/Distribution Rating of D shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.

In Q2, the company posted 1,002% earnings-per-share growth. Sales growth rose 142%, up from 74% in the prior quarter. That marks four quarters of rising growth.

Louisiana Pacific holds the No. 1 rank among its peers in the Building-Wood Products industry group. West Fraser Timber and U F P Industries are also among the group's highest-rated stocks.