On Tuesday, Sally Beauty stock earned a positive adjustment to its Relative Strength (RS) Rating, from 62 to 71.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating measures 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 stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they launch their largest climbs. See if Sally Beauty stock can continue to show renewed price strength and clear that threshold.
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Is Sally Beauty Stock A Buy?
Sally Beauty stock broke out of a saucer-shaped base in February, but has since pulled back. While the beauty retailer stock is not near an ideal entry right now, see if it is able to form and break out from a proper consolidation.
Although earnings and sales growth came in at -17% and -2%, respectively, in the latest report, that marked one quarter of acceleration for EPS and two for the top line. The specialty retailer is expected to release its next quarterly numbers on or around May 4.
Sally Beauty stock earns the No. 3 rank among its peers in the Retail-Specialty industry group. Ritchie Bros Auctioneers and Sally Beauty are also among the group's highest-rated stocks.
