Carpenter Technology saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 94 to 96.
The new score tells you the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Carpenter Technology is currently extended beyond a proper buy zone after clearing the 198.24 buy point in a cup without handle.
Looking For The Best Stocks To Buy And Watch? Start Here
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 B shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 97% earnings gain for Q1. Top line growth increased 10%, up from 5% in the prior quarter. That marks two quarters of rising growth. The company's next quarterly report is expected on or around Jan. 30.
Carpenter Technology holds the No. 1 rank among its peers in the Steel-Specialty Alloys industry group. ATI and Ascent Industries are also among the group's highest-rated stocks.
