Carpenter Technology Stock Receives IBD Stock Rating Upgrade

Blockhead
03 Jan

On Thursday, Carpenter Technology (CRS) stock got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96. The specialty steel stock sports a 96 Relative Strength Rating.

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The new score indicates the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria.

Carpenter Technology stock reclaimed its 50-day moving average on Monday and is not in a proper buy zone. Wait and see if the stock forms a new base or pattern for a new buying opportunity.


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The stock has an 81 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 81% of all stocks.

Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.

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Carpenter Technology Earnings

The specialty steel company posted a 97% earnings-per-share gain for Q1. Sales growth increased 10%, up from 5% in the prior quarter. The company has now posted increasing growth in each of the last two reports.

Carpenter Technology stock holds the No. 2 rank among its peers in the Steel-Specialty Alloys industry group. Universal Stainless (USAP) is the top-ranked stock within the group.

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