Why NYSE:CRS qualifies as a high growth stock.

Our stockscreener has identified a possible breakout setup on CARPENTER TECHNOLOGY (NYSE:CRS). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:CRS for potential opportunities.

Analyzing the Technical Aspects

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall CRS gets a technical rating of 9 out of 10. In the last year, CRS was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, CRS did better than 95% of all other stocks. On top of that, CRS also shows a nice and consistent pattern of rising prices.
• CRS is part of the Metals & Mining industry. There are 157 other stocks in this industry. CRS outperforms 89% of them.
• CRS is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month CRS has a been trading in the 144.76 - 166.67 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of CRS

How does the Setup look for NYSE:CRS

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:CRS has a 8 as its setup rating:

Besides having an excellent technical rating, CRS also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 158.46, a Stop Loss order could be placed below this zone.

Some of the high growth metrics of NYSE:CRS highlighted

• In the most recent financial report, CARPENTER TECHNOLOGY reported a 94.38% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• Analysts' average next Quarter EPS Estimate for CARPENTER TECHNOLOGY has witnessed a 16.33% change in the last 3 months, underscoring the dynamic nature of market sentiment towards the company's EPS prospects.
• In the most recent financial report, CARPENTER TECHNOLOGY reported a 94.38% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• With a favorable trend in its operating margin over the past year, CARPENTER TECHNOLOGY demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
• CARPENTER TECHNOLOGY has experienced notable growth in its free cash flow (FCF) over the past year, signaling improved cash generation and strong financial performance. This growth suggests the company's ability to generate excess cash for reinvestment or shareholder returns.
• CARPENTER TECHNOLOGY showcases a robust Return on Equity (ROE) of 13.67%, indicating its ability to generate favorable returns for shareholders. This metric underscores the company's efficiency in utilizing its equity capital to generate profits.
• With a current Debt-to-Equity ratio at 0.42, CARPENTER TECHNOLOGY showcases its disciplined capital structure. The company's prudent management of debt obligations contributes to its financial stability and long-term sustainability.
• With institutional shareholders at 7.88%, CARPENTER TECHNOLOGY demonstrates a healthy ownership distribution. This reflects a mix of institutional and individual investors, creating a market environment that may foster increased trading activity and price discovery.
• CARPENTER TECHNOLOGY has a strong history of beating EPS estimates 3 times in the last 4 quarters, signaling its ability to consistently exceed market expectations. This indicates the company's strong financial performance and its potential for creating shareholder value.
• The Relative Strength (RS) of CARPENTER TECHNOLOGY has been consistently solid, with a current 95.81 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. CARPENTER TECHNOLOGY exhibits strong prospects for further price appreciation.

Our High Growth Momentum Breakout screen will find you more ideas suited for high growth momentum breakouts.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.