Very few sectors, if any, are immune to rising inflation, the banking crisis and other macroeconomic factors. MSC Industrial Direct, which distributes maintenance and repairs supplies, isn't immune but it's holding up really well, all things considered. On Wednesday, the Relative Strength Rating for MSC Industrial stock climbed to 72, up from 64.
MSC Industrial Stock Among Top 5% Overall
Additionally, MSC Industrial stock boasts a 95 Composite Rating, out of 99. The IBD Composite Rating helps investors easily measure the quality of a stock's fundamental and technical metrics. The best growth stocks have a Composite Rating of 90 or better.
New York City-based MSC Industrial also has an 86 Earnings Per Share Rating, putting it in the top 14% of companies for recent quarters and years profit growth. Its excellent B+ Accumulation/Distribution Rating, on an A+ to E scale, shows that institutions like mutual funds and ETFs are fairly heavy buyers of its stock.
Meanwhile, the raised 72 Relative Strength Rating for MSC Industrial stock is still about eight points shy of the 80 rating that CAN SLIM investors look for in stocks to watch and buy. See if MSC can continue to show renewed price strength and clear that threshold.
On Jan. 11, MSC Industrial expanded its footprint by buying Buckeye Industrial Supply for an undisclosed price. Ohio-based Buckeye primarily provide metalworking products.
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MSC Building A Flat Base Pattern
Currently, MSC Industrial Direct is trying to complete a flat base with a 90.14 buy point. MSC was down more than 3% Wednesday afternoon in sync with the general market's retreat.
MSC Industrial Direct reported 18% earnings growth in its most recent quarter, to $1.48 per share, on a 13% rise in sales to $957.8 million. The prior three quarters the industrial supplies distributor reported EPS grew 25%, 28% and 42%. Sales during that period rose 11%, 11% and 23%. Look for the next report on or around April 4.
MSC Industrial Direct holds the No. 8 rank among its peers in the Machinery-Tools & Related industry group. W.W. Grainger and Lincoln Electric are among the group's highest-rated stocks.
The proprietary IBD Relative Strength Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks stacks up against all the other stocks in our database.
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