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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY and JULIE MAK

IBD Composite Rating For Carpenter Technology Stock Rises To 96

The IBD SmartSelect Composite Rating for Carpenter Technology rose from 93 to 96 Wednesday. The specialty steel stock sports a 97 Relative Strength Rating to boot.

The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.

Carpenter Technology stock dipped below its 50-day moving average in recent weeks and is not currently near a proper buy zone. This is not the time to buy stocks during a market correction, but build a watchlist of possible emerging leaders once the market trend turns around.

 

Looking For The Best Stocks To Buy And Watch? Start Here

 

The stock has an 80 EPS Rating, which means its recent quarterly and annual earnings growth tops 80% of all stocks.

Its Accumulation/Distribution Rating of D- shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.

Carpenter Technology Earnings

The specialty steel company reported a 95% earnings gain for Q2. Sales growth fell to 8%, down from 10% in the prior quarter.

Carpenter Technology stock earns the No. 1 rank among its peers in the Steel-Specialty Alloys industry group. Ascent Industries and ATI are also among the group's highest-rated stocks.

This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.

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