In a welcome move, Ferguson stock saw its Relative Strength Rating rise from 67 to 79 on Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best-performing stocks tend to have an RS Rating north of 80 as they launch their largest runs. See if Ferguson can continue to show renewed price strength and clear that threshold.
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Is Ferguson Stock A Buy?
Ferguson stock retook its 200-day moving average earlier in the month, but is not currently offering a proper buying opportunity. See if the stock goes on to build a base that could launch a new move.
The U.K. based plumbing and heating company reported 18% earnings growth last quarter. Sales rose 17%.
Ferguson stock holds the No. 11 rank among its peers in the Building-Construction Products/Miscellaneous industry group. LSI Industries and Griffon are also among the group's highest-rated stocks.
