Talk about a company in a future-facing industry! Aerojet Rocketdyne, whose roots go back to 1942, makes satellite, power and propulsion systems for the aerospace and defense industries. And Rocketdyne stock just cleared a key benchmark, as its Relative Strength Rating rocketed to 89, up from 78 the day before.
The 89 RS Rating means that Aerojet Rocketdyne stock is in the top 11% of stocks on price performance. The RS Rating is a 1-99 score of a stock's 12-month performance. Leading stocks tend to have RS Ratings of 80 before big price runs.
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Rocketdyne Stock Pauses, Then Resumes Flight
After a blip at the end of last year, earnings growth for the El Segundo, Calif.-based company picked up again this year. The company posted a 22% increase in first quarter earnings to 44 cents per share. Last year, following increases of 28% and 53% in Q2 and Q3, Rocketdyne earnings dipped 9% in the December quarter before turning up again. Sales last quarter edged up 3% to $511.1 million.
Rocketdyne stock rose 1.5% Wednesday to 43.14. It's building a consolidation with a 47.45 buy point. See if the stock can clear the breakout price in volume at least 40% above average.
Rocketdyne stock earns the No. 7 rank among the 60 companies in the Aerospace/Defense industry group. The group ranks a strong No. 31 on IBD's list of 197 industries. Heico and Hexcel are also among the group's highest-rated stocks.
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