Tuesday's IBD 50 Stocks To Watch pick is insurance play Ryan Specialty, which currently sits in a buy zone following a recent breakout move to new highs. That makes the insurance leader one of the best stocks to buy and watch right now.
Ryan Specialty is a wholesale broker and underwriter that provides services to insurance brokers, agents and carriers. It offers property, casualty, workers' compensation and transportation insurance, along with personal lines including homeowners and flood coverage.
On Aug. 1, Ryan announced that company earnings grew 29% to 58 cents a share vs. the year-ago period. Revenue climbed 19% year over year to $695.4 million — a slight slowdown from the previous three quarters but still solid growth.
Ryan Specialty is due to announce third-quarter results on Oct. 30. Analysts expect the company to earn 41 cents per share on sales of $602 million, per FactSet.
For the full year, Wall Street expects the company's earnings to rise 30% to $1.81 per share, with an increase of 23% in 2025, per IBD MarketSurge.
Nvidia Teases Record Breakout. It's Just One Of 19 'Perfect' Stocks.
Stocks To Buy And Watch: Ryan In Buy Range
Ryan stock is in a buy range above a 69.03 entry in a cup base following an Oct. 2 breakout move. The 5% buy range goes up to 72.48. Shares are pulling back to their entry amid modest losses in recent weeks.
A technical factor to watch is the stock's relative strength line, which is falling after nearly hitting new highs in early October. That was a key flaw in the stock's breakout move, as the RS line failed to hit a new high along with the stock price. Still, look for that technical indicator to restrengthen and hit a new high in the near future if the stock is again able to decisively break out to new highs.
Due to long-term earnings strength and strong price action this year, Ryan boasts a near-ideal 98 IBD Composite Rating, according to IBD Stock Checkup.
Further, market risk remains low in recent weeks, and investors should be looking to maintain an exposure level of 80%-100%. And Ryan stock is among the best stocks to buy and watch, especially if it is able to find support around its recent buy point and decisively rebound.
Nvidia, Apple And Tesla Highlight How To Handle This Market
Other Stocks To Keep An Eye On
Three recent IBD 50 Growth Stocks To Watch picks are among the best stocks to buy and watch.
| Company | Symbol | Buy point | Type of base |
|---|---|---|---|
| Abercrombie & Fitch | 172.90 | Cup base | |
| Nvidia | 140.76 | Consolidation | |
| Hims & Hers Health | 25.74 | Cup base |
Source: IBD Data as of Oct. 22
Follow Scott Lehtonen on X at @IBD_SLehtonen for more on the best stocks to buy and watch and the Dow Jones Industrial Average.
