The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
IBEX Limited IBEX
- On Feb. 8, IBEX reported worse-than-expected second-quarter financial results and issued FY24 revenue guidance below estimates. “We delivered against a number of our key objectives in the second quarter, highlighted by the eight new client wins in the quarter, totaling twelve in the first half of the fiscal year versus seven in the prior year period,” commented Bob Dechant, CEO of ibex. The company’s stock fell around 11% over the past five days and has a 52-week low of $11.45 .
- RSI Value: 19.27
- IBEX Price Action: Shares of IBEX fell 9.2% to close at $15.79 on Friday.
Forrester Research, Inc. FORR
- On Feb. 8, the company posted upbeat quarterly earnings. George F. Colony, Forrester’s CEO and chairman, stated, “2023 was a challenging year, with revenue down 11% and CV down by 4%. However, we made steady progress in 2023 on multiple fronts, including improving the Forrester Decisions platform, upskilling the sales organization, and readying our genAI tool, Izola, for general release. Furthermore, we achieved our goal of migrating two-thirds of our contract value into our new research platform, Forrester Decisions.” The company’s stock fell around 14% over the past five days. It has a 52-week low of $21.03.
- RSI Value: 19.77
- FORR Price Action: Shares of Forrester Research fell 7.4% to close at $21.44 on Friday.
ESCO Technologies Inc. ESE
- On Feb. 8, ESCO Technologies posted downbeat quarterly results. Bryan Sayler, Chief Executive Officer and President, said, “Our fiscal year got off to a great start in many ways, with orders being particularly strong. This was evidenced by a $65 million order for surface hull tiles for the Virginia Class Submarine program. In addition, it was another solid quarter in aerospace with strength in both commercial and defense OEM and aftermarket orders. The book-to-bill for the quarter was 1.35x and resulted in record backlog of almost $850 million.” The company’s stock fell around 6% over the past five days and has a 52-week low of $85.50.
- RSI Value: 27.43
- ESE Price Action: Shares of ESCO Technologies fell 5.9% to close at $97.74 on Friday.
Forward Air Corporation FWRD
- On Feb. 7, Forward Air named Michael Hance as Interim CEO. The company’s shares lost around 26% over the past month. The company’s 52-week low is $41.35.
- RSI Value: 20.82
- FWRD Price Action: Shares of Forward Air fell 2.8% to close at $41.43 on Friday.
C.H. Robinson Worldwide, Inc. CHRW
- On Jan. 31, C.H. Robinson Worldwide posted downbeat results for its fourth quarter. The company’s shares fell around 14% over the past month. The company has a 52-week low of $71.57.
- RSI Value: 28.02
- CHRW Price Action: Shares of C.H. Robinson rose 0.1% to close at $74.67 on Friday.
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