The IBD SmartSelect Composite Rating for Enphase Energy stock rose from 94 to 96 Tuesday. The solar stock has 95 Relative Strength Rating.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher grade in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
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Is Enphase Energy Stock A Buy?
Enphase Energy stock is out of buy range after clearing the 193.00 buy point in a double bottom. Wait for the stock to pull back for a second opportunity. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The stock sports a 96 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 96% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q1, the solar company reported 41% earnings growth. Revenue growth came in at 46%, down from 56% in the previous quarter.
Enphase Energy stock earns the No. 2 rank among its peers in the Energy-Solar industry group. Daqo New Energy is the top-ranked stock within the group.
