On Wednesday, PGT Innovations stock got an upgrade to its Relative Strength (RS) Rating, from 83 to 95.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.
Decades of market research reveals that the best stocks typically have an 80 or higher RS Rating at the beginning of a new climb.
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Is PGT Innovations Stock A Buy?
PGT Innovations stock soared 22% on Tuesday and is now considered extended and out of buy range after clearing a 29.64 buy point in a first-stage flat base. See if the building materials stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The door and window maker posted negative growth for both the top and bottom lines last quarter. The company is expected to report its next quarterly numbers on or around Nov. 9.
PGT Innovations stock earns the No. 2 rank among its peers in the Building-Construction Products/Miscellaneous industry group. LSI Industries, Simpson Manufacturing and TopBuild are also among the group's highest-rated stocks.
