The IBD SmartSelect Composite Rating for Erie Indemnity Cl A rose from 93 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. Winning stocks often have a 95 or higher grade in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Erie Indemnity Cl A is now out of buy range after clearing the 411.72 buy point in a double bottom.
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The stock has a 94 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 94% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company posted a 37% increase in earnings for Q4. Top line growth came in at 13%, down from 16% in the prior quarter.
Erie Indemnity Cl A earns the No. 5 rank among its peers in the Insurance-Brokers industry group. Ryan Specialty Holdings is the No. 1-ranked stock within the group.
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