Banking

Scorpio Tankers Earns IBD Rating Upgrade

Scorpio Tankers (STNG) saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 67 to 76.




X



When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s unique rating tracks share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price behavior over the trailing 52 weeks compares to all the other stocks in our database.

Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their largest climbs. See if Scorpio Tankers can continue to show renewed price strength and hit that benchmark.


Looking For The Best Stocks To Buy And Watch? Start Here


While the stock is not near an ideal buying range right now, see if it is able to form and break out from a proper consolidation.

In terms of fundamental health, Scorpio Tankers has posted rising EPS growth over the last two quarters. Revenue growth has been less impressive, coming in at -60% in the most recent quarterly report. Scorpio Tankers is expected to report its next quarterly numbers on or around Nov. 5.

The company holds the No. 51 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Oneok (OKE) and Altus Midstream (ALTM) are also among the group’s highest-rated stocks.

YOU MIGHT ALSO LIKE:

IBD Stock Rating Upgrades: Rising Relative Strength

Why Should You Use IBD’s Relative Strength Rating?

How Relative Strength Line Can Help You Judge A Stock

Find Top Stocks Near A Buy Point With IBD Leaderboard

Most Related Links :
newsbinding Governmental News Finance News

Source link

Back to top button