On Thursday, Mueller Water Products hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 85 the day before.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks tend to have an RS Rating of over 80 as they begin their largest runs.
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Mueller Water Products is still inside a buy zone after breaking past a 26.28 buy point in a cup without handle. Once a stock moves 5% or higher beyond the initial entry, it's considered out of buy range.
The relative strength has entered new high ground, a sign the stock is outperforming the general market in terms of price performance. .
Top and bottom line growth moved higher last quarter. Earnings were up 92%, compared to 16% in the prior report. Revenue increased from 16% to 19%.
The company earns the No. 1 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Armstrong Wrld Ind and AZEK are also among the group's highest-rated stocks.
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