Agriculture stocks are in demand as investors seek securities that offer growth at a reasonable price (GARP) in a fluctuating market. Sociedad Quimica Y Minra is one of the companies in that group showing unusual strength. On Thursday, Sociedad Quimica stock climbed 6.5% despite the broad market sell-off.
The fertilizer maker's outstanding growth earned Sociedad Quimica stock a rating upgrade Thursday from Jefferies Financial. Jefferies analysts in a research note raised their target price for the company's stock to 64, up from 60 earlier, MarketBeat reported. It was the latest in a string of upgrades for the company.
Sociedad Quimica Stock In Top 1%
Chile-based Sociedad Quimica Y Minra produces and sells specialty fertilizers, iodine, industrial chemicals and other products worldwide.
Among its key ratings, Sociedad Quimica stock holds an impressive 99 Composite Rating of a best-possible 99, putting it in the top 1% of all stocks overall. The company's 70 EPS Rating reflects weak earnings in prior years. Its profit growth has significantly improved over the past year, however. Look for that number to rise. The past three quarters its earnings grew 53%, 63% and then an amazing 3,600% last quarter.
Socieded Quimica stock's B Accumulation/Distribution Rating, on an A+ to E scale indicates that institutional investors are fairly heavy buyers of its shares. On Nov. 22, its stock hit an all-time high 71.50. It then consolidated in sync with the overall market. However, its stock has motored 36% higher from a Jan. 5 low.
In its most recent quarter, the agricultural and chemical products maker reported 37 cents per share earnings, up from 1 cent the same quarter last year. Although small in dollars and cents, it represented a 3,600% increase in EPS. Revenue in its latest quarter climbed 46% to $661.6 million.
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Shares Defy Market Drop
Sociedad Quimica stock has risen four days in a row, including Thursday's 6.5% pop in heavy volume, to a 62.59 close. Although it's not currently showing a potential buy point, see if the stock goes on to form a promising consolidation or a cup pattern that could launch a new move.
Sociedad Quimica stock earns the No. 6 rank among its peers in the Chemicals-Agriculture industry group. ICL Group and Mosaic are also among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
