Generac Holdings stock was upgraded to an RS Rating of 83 on Thursday. The RS Rating, which is a proprietary measure by IBD, identifies market leadership with a score ranging from 1 to 99. This rating shows how a stock’s price performance over the past 52 weeks compares to other stocks in the database. Stocks with an RS Rating of at least 80 tend to make significant gains, based on historical data.
In recent times, Generac Holdings experienced a breakout but later retreated below the previous entry point of 133.15 from a cup with handle pattern. When a stock breaks out but drops 7% or more below the entry level, it is considered a failed breakout. In such cases, it is advised to wait for a new base pattern to form before considering taking any positions. However, given that the current pattern is in its later stages, there is an increased risk of establishing or adding positions.
Looking at financial performance, Generac Holdings has shown three consecutive quarters of increasing earnings growth and rising revenue. The company’s next quarterly results are expected to be reported around May 1st. Within the Electrical Power/Equipment industry group, Generac Holdings holds the 13th position among its peers. Other highly rated stocks in this group include nVent Electric (NVT), Vertiv Holdings (VRT), and Gates Industrial (GTES).
For individual investors seeking new investment opportunities or researching growth stocks, there are various resources available. MarketSurge provides tools for investment decisions while IBD Live offers daily market analysis
