The Relative Strength (RS) Rating for beer giant Molson Coors is finally catching up with the company's other, outstanding, ratings. On Wednesday Coors' RS Rating got a lift from 66 to 73. The upgrade for No. 1 ranked Coors stock comes amid soaring profits and accelerating sales growth.
Among its other ratings Coors stock has an 87 Earnings Per Share Rating, out of 99, putting it in the top 13% of stocks for profit growth. Over the last four quarters, the Golden, Colo.-based company's EPS growth rate ranged from 45% to 86%.
Coors Stock A Favorite Of Big Funds
It also carries a respectable 79 Composite Rating and a strong B+ Accumulation/Distribution Rating. The B+ rating indicates that mutual funds, ETFs and the like are fairly heavy buyers of Coors stock. Further, the number of funds holding Coors stock rose from 1,464 in March to 1,573 in September, the latest quarter that figures are available for.
Over 100 years of market history shows that the top-performing stocks tend to have an RS Rating of at least 80 in the early stages of their moves. See if Molson Coors stock can continue to rebound and clear that threshold.
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Coors stock dipped to a 32.11 low in September 2020 in the wake of the Covid market crash. From there it's risen steadily. It hit a multiyear high 70.90 on July 26 this year and consolidated. It's trying to get back to that high.
Reaching For Fresh Buy Point
On Wednesday Coors stock traded at 63.64, up fractionally for the day and about double the 2020 low. It's working on a consolidation with a 70.90 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.
Molson Coors reported 45% earnings growth in its most recent report, vs. the same quarter a year ago, to $1.92 per share. Sales grew 12% to $3.298 billion. The prior quarter it recorded a 50% leap in EPS on 12% revenue growth.
Coors stock holds the No. 1 rank among its peers in the 17-stock Beverages-Alcoholic industry group. Anheuser-Busch InBev is No. 2 and MPG Ingredients is No. 3
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily tracks price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database
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