Last week top-ranked Ryan Specialty Holdings broke out of a cup base and rose to an all-time high. On Monday, the IBD Relative Strength (RS) Rating for Ryan Specialty stock got an upgrade from 79 to 83.
Its earnings growth rate accelerated every quarter over the past year and it set an all-time high for both earnings and revenue last quarter.
Ryan Specialty Stock Doubled Since '21 IPO
Chicago-based Ryan Specialty went public on July 23, 2021 and traded intraday at 25.57 that day. Monday afternoon Ryan Specialty stock traded at 53.21, having more than doubled in the intervening 2-2/3 years.
The upgraded 83 Relative Strength Rating puts Ryan Specialty stock among the top 17% of all stocks for price performance.
Among its other ratings Ryan Specialty stock has a best-possible 99 Composite Rating, putting it among the best stocks to buy and watch, and a nearly best 98 Earnings Per Share Rating.
Additionally, it boasts an A SMR Rating (sales + profit margins + return on equity) on an A-to-E scale and a top-notch A+ Accumulation/Distribution Rating, showing heavy buying of its shares by mutual funds, university funds and the like.
Ryan Specialty provides a wide array of services to insurance companies including underwriting, distributing policies, administration services and helping develop new products, among others.
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EPS Growth Higher Every Quarter
Ryan Specialty Holdings reported 30% earnings growth in the latest quarterly report, to 35 cents per share. The prior three stanzas it recorded EPS growth of 8% to 15% then 28%. Sales rose 22% last quarter to $532.9 million. The three quarters before that sales rose 18%, 19% and 22%.
Ryan Specialty stock has moved more than 5% past a 50.64 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Ryan Specialty stock holds the No. 1 rank among its peers in the Insurance-Brokers industry group. BRP Group and Erie Indemnity are also among the group's highest-rated stocks.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database. Market research reveals that the best-performing stocks often have an 80 or better RS Rating in the early stages of their moves.
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