On Thursday, Parker Hannifin earned a positive adjustment to its Relative Strength (RS) Rating, from 77 to 81.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
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Parker Hannifin is not currently offering a proper buying opportunity. See if the stock goes on to build a promising consolidation that could launch a new move.
Earnings growth picked up last quarter from 4% to 6%. But sales fell from 1% to -2%.
Parker Hannifin holds the No. 8 rank among its peers in the Machinery-General Industrial industry group. ESCO Technologies, Badger Meter and Energy Recovery are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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