In a welcome move, Summit Materials stockticker symb=SUM] stock saw its Relative Strength Rating rise from 63 to 73 on Thursday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves. See if Summit Materials stock can continue to show renewed price strength and hit that benchmark.
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Is Summit Materials Stock A Buy?
Summit Materials stock is working on a cup with handle with a 39.46 buy point. See if the building materials stock can break out in volume at least 40% above average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The Denver, CO.-based company showed 16% earnings growth last quarter, while sales growth came in at 6%. Keep an eye out for the company's next round of numbers on or around Feb. 14.
Summit Materials stock holds the No. 7 rank among its peers in the Building-Cement/Concrete/Aggregates industry group. CRH and U.S. Lime & Minerals are also among the group's highest-rated stocks.
