Lincoln Electric Stock Sees Composite Rating Climb To 96

Lincoln Electric (LECO) stock saw an improvement in its IBD SmartSelect Composite Rating Monday, from 93 to 96.

The upgrade means the stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.

Lincoln Electric stock is currently forming a consolidation, with a 148.64 entry. Look for the stock to break out in volume at least 40% higher than normal.

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The stock earns a 91 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 91% of all stocks.

Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.

In Q2, the industrial automation company reported 31% earnings-per-share growth. Top line growth came in at 17%, down from 22% in the prior quarter.

Lincoln Electric stock earns the No. 1 rank among its peers in the Machinery-Tools & Related industry group. Enerpac Tool Group (EPAC) and Xylem (XYL) are also among the group’s highest-rated stocks.


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