On Tuesday, Scorpio Tankers got an upgrade for its IBD SmartSelect Composite Rating from 93 to 96. It also is showing Relative Strength at 98.
The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria.
Scorpio Tankers is currently forming a consolidation, with a 64.30 buy point. Look for the stock to break out in heavy trade at least 40% higher than normal.
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Earnings Preview
One weak spot is the company's 78 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks. With earnings next week, this would be one number to watch closely.
Its Accumulation/Distribution Rating of C- shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q4, the company posted 0% earnings growth. Sales growth came in at 234%, down from 311% in the previous quarter. The company's next quarterly report is expected on or around May. 2.
Scorpio Tankers holds the No. 13 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. DHT Holdings, Frontline and Teekay Tankers are among the top 5 highly-rated stocks within the group.
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