One important metric to look for in a stock is an 80 or higher Relative Strength Rating. AZZ now clears that threshold, with a jump from 80 to 83 Monday.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 as they begin their biggest price moves.
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While the stock is not near a proper entry right now, see if it is able to form and break out of a proper consolidation.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 17%, compared to 8% in the prior report. Revenue increased from 3% to 6%.
AZZ holds the No. 6 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and Eaton Corp. PLC are among the top 5 highly rated stocks within the group.
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