The IBD SmartSelect Composite Rating for Carpenter Technology increased from 94 to 96 Thursday.
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The new score means the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria.
Carpenter Technology is currently forming a double bottom, with a 198.48 entry. Look for the stock to break out in volume at least 40% above average.
The stock earns an 80 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 80% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 95% rise in earnings for Q2. Top line growth came in at 8%, down from 10% in the prior quarter. The company's next quarterly report is expected on or around Apr. 24.
Carpenter Technology holds 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.
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