Law enforcement and military products maker Axon Enterprise (AXON), originally known for its less-lethal control weapons, continues to expand its product lines. Axon stock hit an all-time high on Aug. 5 and on Monday it got a Relative Strength (RS) Rating upgrade from 66 to 71.
The upgraded 71 RS Rating shows that Axon outperformed 70% of all stocks for price performance over the last 52 weeks. It’s a welcome improvement, but Axon’s other ratings paint an even brighter picture.
History shows that the market’s biggest winners typically have an RS Rating north of 80 in the early stages of their moves. See if Axon Enterprise can continue to show rising price strength and clear that threshold.
Axon stock hit a record high 885.91 on Aug. 5. It consolidated from there, dipping to a 638.50 low on Oct. 10. It turned up then and was on track for its fourth higher close in as many days Tuesday afternoon, trading around 700.
Axon’s 99 EPS Rating Reflects Rapid Profit Growth
Axon boasts a best-possible 99 EPS Rating and an outstanding 93 Composite Rating. The 93 Composite means Axon stock is in the top 7% of stocks for a group of the most important fundamental and technical metrics. Additionally it has a strong Accumulation/Distribution Rating of B, showing funds are eager buyers.
How To Invest In Stocks In Both Bull And Bear Markets
Scottsdale, Ariz.-based Axon reported a 74% surge in earnings last quarter to $2.12 per share on a 33% increase in revenue to $668.5 million. The prior three stanzas it recorded EPS gains of 41%, 84% and 23% on revenue advances of 32%, 34% and 31%.
Axon continues to develop its Taser brand control devices, and is on the 10th generation device now. The company says on its website that the object is to “Stop a threat without taking a life.”
Axon’s other product lines incorporate AI technology and include aerial surveillance drones and antidrone technology for law enforcement agencies. Also, on-body and in-vehicle cameras, data and video management systems for police headquarters and a host of other devices and systems.
Among Top 3 In Its Industry
Look for the next earnings report on or around Nov. 6.
Axon holds the No. 3 rank among its peers in the Security/Safety industry group. Federal Signal (FSS) is the top-ranked stock in the group.
IBD’s unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock’s price performance over the last 52 weeks compares to other publicly traded companies.
This article was created automatically with Stats Perform’s Wordsmith software using data and article templates supplied by Investor’s Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Profit From Short-Term Trends With SwingTrader
Why Should You Use IBD’s Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
MarketSurge: Research, Charts, Data And Coaching All In One Place
