Benzinga - by Lisa Levin, Benzinga Editor.
The most oversold stocks in the consumer discretionary 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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Fisker Inc. (NYSE: FSR)
- Fisker plans to report its earnings release after the closing bell on Nov. 13, 2023. The company’s stock has a 52-week low of $3.68 .
- RSI Value: 29.70
- FSR Price Action: Shares of Fisker gained 1.3% to close at $3.84 on Friday.
- Fox Factory reported worse-than-expected third-quarter financial results and issued FY23 net sales guidance below estimates. FOXF also disclosed the purchase of Marucci Sports, LLC from Compass Diversified Holdings for $572 million. It has a 52-week low of $49.12.
- RSI Value: 18.68
- FOXF Price Action: Shares of Fox Factory gained 1.5% to close at $55.87 on Friday.
- Marine Products reported worse-than-expected third-quarter financial results. "Our third quarter results reflect the reduction in production and delivery rates due to normalization of retail boat demand that has occurred during 2023, following significant post-COVID demand. In addition, our production in the third quarter was adversely impacted by Hurricane Idalia," stated Ben M. Palmer, Marine Products' President and Chief Executive Officer. The company’s stock has a 52-week low of $9.21.
- RSI Value: 27.04
- MPX Price Action: Shares of Marine Products gained 1.3% to close at $9.44 on Friday.
- XPEL posted downbeat quarterly earnings. Ryan Pape, President and Chief Executive Officer of XPEL, said, "It was a busy and solid quarter for the Company. We continue to see strong demand for our products and services and our unique channel strategy positions us to be wherever that demand takes us." The company’s 52-week low is $40.77.
- RSI Value: 26.97
- XPEL Price Action: Shares of XPEL gained 2.2% to close at $44.46 on Friday.
- Net income attributable to common shareholders was $42 million in the third quarter, down from $109 million in the year-ago quarter. "We had a difficult quarter between the devastating wildfires in Maui and default rates on our loan portfolio remaining above our recent experience. However, our loan delinquencies are stabilizing and with Maui reopen for tourism we have started to see our resort occupancies recover," said John Geller, president and chief executive officer. The company has a 52-week low of $75.19.
- RSI Value: 26.58
- VAC Price Action: Shares of Marriott Vacations Worldwide fell 0.1% to close at $76.45 on Friday.
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