Polaris Industries (PII) on Tuesday reported better than expected earnings result, and its revenue growth matched estimates. However, Polaris stock fell in sync with market consolidation. Still, on Tuesday, the Relative Strength (RS) Rating for Polaris popped to 71, up from 65 the day before.
Polaris stock starting rising rapidly just after the coronavirus market crash in fall of 2020. Pandemic shut-ins sought relief in the great outdoors on its all-terrain vehicles and snowmobiles. From a low of 37.35 in early April 2020, Polaris stock shot up nearly 300% to 157.73 at the end of April this year. It’s consolidated since then but appears to be forming a cup base.
Polaris Stock Rising; More Work Needed
Top stocks typically have an 80 or better RS Rating as they begin their largest price moves. See if Polaris stock can continue to rebound and clear that threshold.
Earnings-per-share shot up 108% last quarter to $2.70. Its EPS grew 70%, 83% and then an amazing 945% the prior three periods. Sales in its most recent quarter climbed 40% to $2.12 billion, continuing a four-quarters string of double-digit growth.
Polaris stock also has a 92 EPS Rating of a possible 99. Additionally, it has a 93 Composite Rating, a mix of five key ratings. And its B- Accumulation/Distribution Rating, on an A+ to E scale with A+ tops, shows funds buying more shares than selling.
Polaris stock is trying to complete a cup without handle with a 147.83 entry. See if it can clear the breakout price in volume at least 40% higher than normal.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD’s proprietary rating measures share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.
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