When putting together your watch list, look for stocks with an 80 or higher RS Rating. RenaissanceRe Hldgs just cleared that benchmark with an upgrade from 78 to 81.
IBD's unique rating identifies share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research 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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RenaissanceRe Hldgs has climbed more than 5% past a 239.42 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While EPS growth decreased in the company's most recent performance report from 48% to 40%, revenue grew 53%, up from 18% in the prior report. The next quarterly results are expected on or around Nov. 6.
RenaissanceRe Hldgs earns the No. 10 rank among its peers in the Insurance-Property/Casualty/Title industry group. HCI Group, Mercury General and Goosehead Insurance Cl A are among the top 5 highly rated stocks within the group.
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