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.

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 $53.5 million.
  • WAT has traded 21,303 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 24.5. Currently there are 3 analysts that rate Waters a buy, 1 analyst rates it a sell, and 10 rate it a hold.

The average volume for Waters has been 393,000 shares per day over the past 30 days. Waters has a market cap of $10.3 billion and is part of the health care sector and health services industry. The stock has a beta of 0.30 and a short float of 2.9% with 4.37 days to cover. Shares are up 9.6% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Waters as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, reasonable valuation levels and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:
  • WAT's revenue growth has slightly outpaced the industry average of 0.2%. Since the same quarter one year prior, revenues slightly increased by 3.3%. 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 0.77, 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 4.28, which clearly demonstrates the ability to cover short-term cash needs.
  • 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.
  • The gross profit margin for WATERS CORP is rather high; currently it is at 62.98%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 25.91% significantly outperformed against the industry average.

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