[ibd-display-video id=2402943 width=50 float=left autostart=true] The upgrade means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Electro Scientific Industries is currently extended beyond a proper buy zone after clearing the 9.30 entry in a consolidation.
The stock has an 80 EPS Rating, meaning its recent quarterly and annual earnings growth tops 80% 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 Q2, the company reported 263% earnings-per-share growth. Revenue growth climbed 139%, up from 52% in the prior quarter. The company has now posted accelerating growth in each of the last four quarters.
Electro Scientific Industries earns the No. 12 rank among its peers in the Electronics-Semiconductor Equipment industry group. Applied Materials ( AMAT ), Brooks Automation ( BRKS ) and Data IO ( DAIO ) are among the top 5 highly-rated stocks within the group.