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.
Verra Mobility Corp VRRM
- On Oct. 31, Verra Mobility reported worse-than-expected third-quarter revenue results and issued FY24 revenue guidance below estimates. “We delivered a solid third quarter, highlighted by strong revenue, earnings, and cash flow generation,” said David Roberts, President and CEO, Verra Mobility. The company’s stock fell around 12% over the past five days and has a 52-week low of $18.76.
- RSI Value: 27.83
- VRRM Price Action: Shares of Verra Mobility gained 1.4% to close at $23.12 on Tuesday.
- Benzinga Pro’s real-time newsfeed alerted to latest VRRM news.
Huntington Ingalls Industries Inc HII
- On Oct. 31, Huntington Ingalls Industries reported worse-than-expected third-quarter financial results. It also revised FY24 revenue outlook and withdrew 5-year free cash flow outlook. The company’s stock fell around 24% over the past five days and has a 52-week low of $184.29.
- RSI Value: 20.66
- HII Price Action: Shares of Huntington Ingalls rose 1.2% to close at $193.24 on Tuesday.
- Benzinga Pro’s charting tool helped identify the trend in HII stock.
Janus International Group Inc JBI
- On Oct. 29, Janus International Group reported worse-than-expected third-quarter financial results and cut its FY24 sales guidance below estimates. “We saw continued pressure in the third quarter as headwinds from macroeconomic factors, interest rate uncertainty and project delays persisted,” said Ramey Jackson, Chief Executive Officer. The company’s stock fell around 28% over the past month and has a 52-week low of $6.68.
- RSI Value: 20.90
- JBI Price Action: Shares of Janus International Group fell 0.3% to close at $7.02 on Tuesday.
- Benzinga Pro’s signals feature notified of a potential breakout in JBI shares.
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