If water flows through it, chances are it's made by Flowserve. Early Thursday shares of the maker of pumps, valves and other water control gear briefly topped 45, its highest price since February 2020. Also on Thursday, the IBD Relative Strength (RS) Rating, for Flowserve stock climbed from 79 to 83.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves. The upgraded 83 RS Rating shows that Flowserve stock is in the top 17% of stocks for price performance this past year.
Flowserve makes water control equipment for a variety of markets including municipal and corporate water systems, green energy projects, industrial uses and more.
Flowserve Stock Rises After EPS Gains Of Up To 471%
Last quarter Flowserve reported a mild 8% rise in EPS to 68 cents on a 12% increase in revenue to $1.17 billion. However, that came after huge earnings growth the prior three periods when it recorded earnings gains of 471%, 73% and 456%. During that period sales rose 19%, 22% and 25%.
Among its other ratings Flowserve stock has an 89 Composite Rating. That means Flowserve stock is among the top 11% overall for key fundamental and technical metrics. It has a milder 71 Earnings Per Share Rating but boasts a B SMR Rating (sales + profit margins + return on equity) on an A-to-E scale with A best. And it holds a B- Accumulation/Distribution Rating, which means funds are buying more of its shares than selling.
Risk Management In The Stock Market: How Much Money To Invest Now
Stock Nearly Doubles In 17 Months
Flowserve stock has nearly doubled its price from a 23.89 intraday low in mid-October 2022 to close at 44.15 Thursday, down for the day. It's now considered extended and out of buy range after clearing a 41.99 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Flowserve stock earns the No. 20 rank among its peers in the 47-stock Machinery-General Industrial industry group. Graham, Ingersoll Rand and Parker Hannifin are among the top 5 highly rated stocks in the group.
IBD's unique Relative Strength Rating identifies share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
RELATED:
Get Full Access To IBD Stock Lists And Ratings
Which Stocks Are Showing Rising Relative Strength?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
Watch Our Market Experts Spot Top Stocks Each Morning On IBD Live
