On Thursday, Carpenter Technology stock got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96. The specialty steel stock sports a 96 Relative Strength Rating.
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.
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 is the top-ranked stock within the group.
