On Monday, Weyerhaeuser stock got an upgrade for its IBD SmartSelect Composite Rating from 93 to 96.
Weyerhaeuser Stock Tripled In 2 Years
Although it's cooled recently in sync with the market correction, Weyerhaeuser stock has soared more than 200% from a Covid crash low 13.10 set at the end of March 2020 to a 40.05 close Monday.
The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The market's biggest winners often have a 95 or higher rating in the early stages of a new price run, so that's a good item to have on your checklist when looking for the best stocks to buy and watch.
The Seattle-based REIT, which owns and controls 14.1 million acres of timberland, reported a 44% increase in earnings for Q1 to $1.31 per share. Sales growth increased 24%, to $3.11 billion, up from 7% in the prior report.
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The stock sports an 83 EPS Rating, meaning its recent quarterly and annual earnings growth tops 83% of all stocks.
Weyerhaeuser stock's Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
Working On A Fresh Base
Weyerhaeuser stock is currently forming a cup with handle, with a 42.96 entry. However, like many other stocks it's struggled amid the market correction. Weyerhaeuser stock fell 5% early Monday in sync with the market pullback, but recovered somewhat to close at 40.05, down 2.8% for the day. See if the stock can break out in volume at least 40% above average.
Weyerhaeuser stock holds the No. 2 rank among its peers in the Finance-Property REITs industry group. Host Hotels & Resorts is the No. 1-ranked stock in the group. Apple Hospitality REIT and EPR Properties are also in the top five.
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