The L.S. Starrett Co (NYSE: SCX). Extremely significant positive changes in investment behavior have recently occurred: its longer term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, its shorter term price trend turned up, and the stock rose on very heavy volume.
Positive development: the stock’s power rating rose above 70. Negative development: significant quarterly earnings deceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, SCX is expected to continue to be an important Value Builder.
L.S. Starrett has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. L.S. Starrett has a good Power Rating of 75 and a good Appreciation Score of 85, and the Highest Value Trend Rating results.
Recent Price Action
On 3/13/24, The L.S. Starrett Co (NYSE: SCX) stock rose modestly by 0.3%, closing at $15.79. Moreover, trading volume in this advance was exceptionally high at 220% of normal. Relative to the market the stock has been strong over the last nine months and has risen 59.0% during the last week.
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