Teledyne Technologies (TDY) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Teledyne Technologies ( TDY) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Teledyne Technologies as such a stock due to the following factors:

  • TDY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $22.4 million.
  • TDY has traded 1,329 shares today.
  • TDY is trading at a new lifetime high.

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More details on TDY:

Teledyne Technologies Incorporated manufactures and sells aerospace and defense products primarily in the United States and Canada. The company operates through four segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. TDY has a PE ratio of 17.9. Currently there are 3 analysts that rate Teledyne Technologies a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Teledyne Technologies has been 156,200 shares per day over the past 30 days. Teledyne has a market cap of $3.8 billion and is part of the technology sector and electronics industry. The stock has a beta of 1.05 and a short float of 2.3% with 3.93 days to cover. Shares are up 11.3% year-to-date as of the close of trading on Thursday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Teledyne Technologies as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:
  • TDY's revenue growth has slightly outpaced the industry average of 0.9%. Since the same quarter one year prior, revenues slightly increased by 5.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • TELEDYNE TECHNOLOGIES INC has improved earnings per share by 19.5% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, TELEDYNE TECHNOLOGIES INC increased its bottom line by earning $4.87 versus $4.33 in the prior year. This year, the market expects an improvement in earnings ($5.51 versus $4.87).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Aerospace & Defense industry average. The net income increased by 18.8% when compared to the same quarter one year prior, going from $46.80 million to $55.60 million.
  • 41.46% is the gross profit margin for TELEDYNE TECHNOLOGIES INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 9.24% is above that of the industry average.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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