Investors Explore Buying Opportunities: Oversold Stocks in Industrials Sector

The industrials sector is showcasing some oversold stocks, which could present a chance for investors to acquire undervalued companies. The Relative Strength Index (RSI), a momentum indicator that measures stock performance during up and down days, can offer traders insight into potential short-term movements. Typically, a stock is deemed oversold if its RSI falls below 30, according to Benzinga Pro.

Here’s the current list of prominent companies in the industrials sector that have an RSI near or under 30.

Verra Mobility Corp VRRM

• On Oct. 31, Verra Mobility reported disappointing third-quarter revenue and issued FY24 revenue projections that were lower than anticipated. “We delivered a solid third quarter, highlighted by strong revenue, earnings, and cash flow generation,” stated President and CEO David Roberts. The stock declined approximately 12% during the last week, hitting a 52-week low of $18.76.
• RSI Value: 27.83
• VRRM Price Action: Shares of Verra Mobility increased by 1.4%, finishing at $23.12 on Tuesday.
• Benzinga Pro’s real-time newsfeed provided updates on VRRM’s latest developments.

Huntington Ingalls Industries Inc HII

• Also on Oct. 31, Huntington Ingalls Industries revealed weaker-than-expected third-quarter results and revised its FY24 revenue outlook downward, while also retracting its five-year free cash flow projections. The stock saw a significant decline of about 24% over the past five days, with a 52-week low of $184.29.
• RSI Value: 20.66
• HII Price Action: Shares of Huntington Ingalls gained 1.2%, ending at $193.24 on Tuesday.
• Benzinga Pro’s charting tool aided in identifying trends in HII stock.

Janus International Group Inc JBI

• On Oct. 29, Janus International Group disclosed third-quarter results that fell short of expectations and reduced its FY24 sales guidance. “We faced ongoing pressure in the third quarter due to macroeconomic challenges, uncertainty with interest rates, and project delays,” remarked CEO Ramey Jackson. The stock dropped nearly 28% in the last month, marking a 52-week low of $6.68.
• RSI Value: 20.90
• JBI Price Action: Shares of Janus International fell by 0.3%, closing at $7.02 on Tuesday.
• Benzinga Pro’s signals feature indicated a possible breakout for JBI shares.

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