Lubrizol Corp. (LZ) pre announced much better than expected third-quarter results on Oct 21 that sent the company’s share price to a new 52-week and all-time high above $76.

Third-Quarter Results

Lubrizol said that earnings to come in at $2.46 per share, far ahead of the Zacks Consensus Estimate that was calling for $1.89. The company is set to release its full results on Oct 29.

Valuation

Based on the new earnings information, this stock has a forward P/E multiple of 12X, a nice discount to the overall market.

The Chart

Shares of LZ have been on a tear for the last 6 months after bottoming out with the market in early March, recently hitting a new 52-week and all-time high. Take a look below.

Zacks Investment Research
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