Berkshire Hathaway B stock rose to a fresh all-time high Wednesday. The move for Berkshire stock comes just days after the Warren Buffett-led company announced it completed the purchase of Pilot Corp.
Additionally, the Relative Strength Rating for Berkshire stock climbed into a higher percentile with a rise from 68 to 71 on Wednesday. The upgraded 71 RS Rating shows that Berkshire stock topped 70% of all companies for price performance over the past year.
On Jan. 16, Berkshire said it had completed the purchase of Pilot by acquiring the 20% of the company it still didn't own. The purchase adds Pilot, a chain of truck stops that does business as Pilot Flying J, to the company's vast holdings. The purchase also settled a legal dispute the companies had.
Looking For Winning Stocks? Try This Simple Routine
Berkshire Stock Up 5 Days In Row
Berkshire stock rose 1.2% Wednesday. It was its fifth close higher in a row. However, now is not an ideal time to jump in because it isn't near a proper buy zone, but see if the stock manages to offer and clear an appropriate buy point.
Berkshire Hathaway posted a 43% jump in earnings growth in its most recent quarterly report, to $4.96 per share. Sales grew 21% to $93.2 billion.
Among its other ratings, Omaha-based Berkshire has a 92 Earnings Per Share Rating out of 99. Berkshire stock has an 86 Composite Rating. And the diversified conglomerate has a B SMR Rating (sales + profit margins + return on equity), pointing to strong fundamentals.
Institutional Funds Cautiously Buying
Its C+ Accumulation/Distribution Rating indicates that slightly more funds such as ETFs and mutual funds are buying Berkshire stock shares than selling.
Berkshire Hathaway B stock earns the No. 6 rank among its peers in the Diversified Operations industry group. Eaton is No. 1 in the group and the more-expensive Berkshire Hathaway A, priced at 571,213 a share, is No. 2 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 unique Relative Strength Rating tracks share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the best stocks typically have an 80 or better RS Rating as they launch their biggest climbs. See if Berkshire Hathaway can continue to show renewed price strength and hit that benchmark.
