UFP Industries had its Relative Strength (RS) Rating upgraded from 69 to 73 Tuesday — a welcome improvement, but still below the 80 or better score you prefer to see.
IBD's unique rating tracks price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they begin their largest price moves. See if UFP Industries can continue to show renewed price strength and hit that benchmark.
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UFP Industries broke out earlier, but has fallen back below the prior 136.93 entry from a consolidation. If a stock you're tracking breaks past a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company reported negative growth for both sales and earnings last quarter.
The company holds the No. 2 rank among its peers in the Building-Wood Products industry group. Louisiana-Pacific is the top-ranked stock within the group.
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