Hubbell (HUBB), on Tuesday, reported outstanding earnings. On Wednesday, its stock rose 12.7% and reached a new all-time high. The Relative strength (RS) rating of the company on Wednesday soared to a high 92 out of 99.
Hubbell stock breaks out; profits soar 70%
Hubbell does not see distant galaxies like the telescope with a similar name. Hubbell, the electrical systems provider, does shine brightly. Hubbell's EPS jumped 70% on an annual basis to $3.61. This easily exceeded expectations. Sales increased 11% to reach $1.29 billion.
Hubbell's stock now has a 92 RS rating, which places it in the top 8% for the price performance of stocks over the last 12 months. The market history has shown that stocks with the highest RS Ratings tend to be those that have the greatest gains in the beginning stages of their movements.
IBD 50 also has an outstanding 93 Earnings per Share Rating out of 99. Add to that a parallel 93 Composite Rating and B- Accumulation/Distribution Rating.
The Composite Rating is a simple score that combines five proprietary IBD ratings based on fundamental and technical criteria into one. The Composite Rating should be 90 or higher for the best growth stocks. The Accumulation/Distribution Rating tracks institutional buying (accumulation) and selling (distribution) in a particular stock over the last 13 weeks.
Hubbell manufactures power transmission systems for the industrial, construction, and other industries. Hubbell's stock had broken out before, but it has now fallen below the previous 263.40 entry after a consolidation. The most recent pattern can be a base that is in a later stage. It is riskier to add to or create a position than to start one at an earlier stage.
Hubbell Stock is ranked No. 5 among its peers in the Electrical Power/Equipment industry group. Hubbell stock is ranked No. Allied Motion (AMOT), and ABB(ABB) are two of the five highest rated stocks within the group.
In order to find the best stocks for you to buy, and to keep an eye on, it is important to pay attention to relative price strength. IBD's proprietary Relative Strength rating identifies the market leader by comparing a stock’s price movement over the past 52 weeks to that of other stocks in our database.