Carpenter(US:CRS) zacks.comยท2024-05-23 17:01Company Overview - Carpenter Technology (CRS) currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [4] Price Performance - Over the past week, CRS shares have increased by 4.93%, outperforming the Zacks Steel - Specialty industry, which rose by 3.64% [6] - In a longer time frame, CRS shares have shown a monthly price change of 34.15%, significantly higher than the industry's 5.5% [6] - Over the last quarter, shares of Carpenter Technology have surged by 66.01%, and over the past year, they have gained 136.79% [7] - In comparison, the S&P 500 has only moved 4.73% and 28.27% over the same periods [7] Trading Volume - The average 20-day trading volume for CRS is currently 729,919 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for CRS have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $3.95 to $4.31 [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions during the same period [10] Conclusion - Considering the positive price movements, trading volume, and earnings outlook, CRS is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a compelling option for investors seeking short-term gains [11]