Weakness Seen in Carpenter Technology (CRS): Stock Tumbles 8.2% – Tale of the Tape

This fall in price came after Carpenter Technology announced a restructuring plan and provided outlook for third quarter of fiscal 2015 on Mar 31.

This slump shouldn’t be too much of a surprise to investors, as the specialty steel company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

CRS currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

Another better-ranked stock in the broader Basic Materials sector is ThyssenKrupp AG (TYEKF) with a Zacks Rank #1 (Strong Buy).

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