In a welcome move, Summit Materials stock saw its Relative Strength Rating improve from 70 to 77 on Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they begin their biggest climbs. See if Summit Materials Cl A can continue to show renewed price strength and hit that benchmark.
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Is Summit Materials Stock A Buy?
Now is not an ideal time to jump add Summit Materials stock since it isn't near a proper buy zone, but see if this building materials stock goes on to establish and enter a buying range in heavy volume.
Earnings grew 19% last quarter, up from 0% in the prior report. Revenue also increased, from 3% to 6%.
Summit Materials stock earns the No. 7 rank among its peers in the Building-Cement/Concrete/Aggregates industry group. Eagle Materials and Martin Marietta are also among the group's highest-rated stocks.
