Tenaris stock saw an improvement in its IBD SmartSelect Composite Rating Friday, from 93 to 96. The steel producer stock sports a 94 Relative Strength Rating.
The upgrade means the stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength.
Tenaris is currently forming a cup without handle, with a 34.86 entry. See if the stock can break out in volume at least 40% higher than normal.
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The stock sports an 80 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 80% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
Tenaris' Growth Continues
The steel producer posted an 84% earnings-per-share gain for Q3. Sales growth came in at 70%, down from 83% in the previous quarter.
Tenaris stock earns the No. 2 rank among its peers in the Steel-Producers industry group. Steel Dynamics is the No. 1-ranked stock within the group.
