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

  • WAT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $37.5 million.
  • WAT has traded 3,491 shares today.
  • WAT is trading at a new lifetime high.

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More details on WAT:

Waters Corporation operates as an analytical instrument manufacturer in the United States and internationally. WAT has a PE ratio of 22.8. Currently there are 3 analysts that rate Waters a buy, 1 analyst rates it a sell, and 9 rate it a hold.

The average volume for Waters has been 512,800 shares per day over the past 30 days. Waters has a market cap of $9.4 billion and is part of the health care sector and health services industry. The stock has a beta of 0.69 and a short float of 3.2% with 7.20 days to cover. Shares are up 2.9% year-to-date as of the close of trading on Wednesday.

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 Waters as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. 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:
  • 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.
  • WATERS CORP has improved earnings per share by 17.5% 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, WATERS CORP increased its bottom line by earning $5.21 versus $5.19 in the prior year. This year, the market expects an improvement in earnings ($5.40 versus $5.21).
  • WAT's revenue growth trails the industry average of 25.9%. Since the same quarter one year prior, revenues slightly increased by 7.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The debt-to-equity ratio is somewhat low, currently at 0.78, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Along with this, the company maintains a quick ratio of 4.07, which clearly demonstrates the ability to cover short-term cash needs.

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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