On Tuesday, Archer Daniels Midland got an upgrade for its IBD SmartSelect Composite Rating from 94 to 97.
The revised score means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. The top-performing stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Archer Daniels Midland is currently forming a double bottom, with a 91.91 entry. See if the stock can break out in volume at least 40% higher than normal. Keep in mind that it's a later-stage base, which makes it a riskier entry point.
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Earnings Report
The stock earns a 95 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 95% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company reported a 62% rise in earnings for Q2. That marks three straight reports with rising EPS growth. Sales growth came in at 19%, down from 25% in the previous quarter.
Archer Daniels Midland earns the No. 1 rank among its peers in the Food-Grain & Related industry group. Ingredion and Andersons are also among the group's highest-rated stocks.
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