ELF Beauty stock saw an improvement in its IBD SmartSelect Composite Rating Friday, from 90 to 96. The cosmetic-skincare retailer stock has 97 Relative Strength Rating.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
ELF Beauty stock is now out of buy range after clearing the 33.73 buy point in a cup without handle. Wait for the stock to pulled back for a second opportunity. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
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One weak spot is the company's 77 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
In Q1, the cosmetics retailer reported 44% EPS growth. Top line growth rose 26%, up from 13% in the prior report. The company has now posted increasing growth in each of the last two reports.
ELF Beauty stock earns the No. 1 rank among its peers in the Cosmetics/Personal Care industry group. Inter Parfums and Prestige Brands are also among the group's highest-rated stocks.
