As markets remain weak amid heightened volatility, finding top-performing stocks can help identify strong plays in shifting environments. In IBD's Screen Of The Day, we look at stocks with a relative strength line at all-time highs. Here are some of the names to watch.
FMC, One Of Top-Performing Stocks, Reports Earnings
Heavy demand for pesticides and fertilizers has led to strength in IBD's agricultural chemicals industry group, which ranks second out of IBD's 197 industries. FMC is the leader of the group and boasts a top IBD Composite Rating of 99.
The stock has been displaying strength as it finds support at its 10-week moving average. That support will be put to the test as the company reports its first-quarter earnings after market close today. EPS is currently estimated at $1.71 on revenue of $1.28 billion.
For the next few years, FMC's growth is expected to continue unabated as the war in Ukraine has sent agricultural output lower and prices soaring. This in turn has increased the demand for chemicals to increase crop yields.
Analysts expect FMC, which reported a full-year EPS of $6.93 in 2021, to increase earnings to $7.79 and $8.85 a share in 2022 and 2023, respectively.
Ashland Expects Strong Growth
Specialty chemicals supplier Ashland expects strong growth too, and has been outperforming, ranking first in IBD's Specialty Chemicals group.
The company — boasting a Composite Rating of 98 — reported another solid quarter of earnings on April 26, with sales of $604 million, up 19% from a year prior. Sales increased across the board, with every company segment experiencing double-digit growth. For the full year, analysts expect EPS to jump to $5.09 from the $3.75 reported in 2021.
Ashland is forming a cup with handle and has a buy point of 111.15, according to MarketSmith. An attempt to top that entry on April 20 never quite materialized.
For investors looking for a defensive name with a juicy yield, keep an eye on Altria Group (. The stock ranks second in an outperforming tobacco group. It has a dividend yield of 6.4%, too.
After finding support at its 10-week line, shares formed a three-weeks-tight pattern with a 57.15 buy point.
Top-Performing Stocks: Eli Lilly Remains In Buy Zone
After breaking out of a cup with handle, Eli Lilly stock appears to be finding support above a 284 buy point, and remains in a buy range.
The stock has been helped along by strong first-quarter results as both EPS and sales increased from a year prior while also heavily beating estimates. Positive drug trials continued, with Eli Lilly's obesity drug Tirzepatide showing strong results in its final trial.
