Core Molding Technologies (NYSEAMERICAN:CMT) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• Technical breakout: Shares of Core Molding Technologies crossed above their 50‑day moving average, trading as high as $27.93 and last at $27.27 versus a 50‑day MA of $21.00 (200‑day MA $19.84), indicating short‑term upward momentum.
• Earnings beat: The company reported $0.47 EPS versus $0.23 expected and revenue of $74.68M versus $66.44M, signaling stronger-than-anticipated quarterly performance.
• Analyst upgrade and buyback: Roth MKM raised its price target to $24 and gave a "buy" rating (consensus rating is "Buy"), and the board authorized a share repurchase program.

Shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $21.00 and traded as high as $27.93. Core Molding Technologies shares last traded at $27.27, with a volume of 58,380 shares changing hands.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted their price target on Core Molding Technologies from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $24.00.

Core Molding Technologies Trading Up 3.7%

The stock has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $19.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.45 and a current ratio of 3.02. The firm has a market cap of $250.88 million, a PE ratio of 20.98 and a beta of 0.33.

Core Molding Technologies (NYSEAMERICAN:CMT - Get Free Report) last issued its earnings results on Tuesday, March 10th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.24. Core Molding Technologies had a return on equity of 7.26% and a net margin of 4.09%.The business had revenue of $74.68 million during the quarter, compared to analyst estimates of $66.44 million. As a group, sell-side analysts anticipate that Core Molding Technologies Inc will post 1.64 EPS for the current year.

Core Molding Technologies declared that its Board of Directors has authorized a share buyback program on Thursday, March 12th that allows the company to repurchase $7,500.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 4,581,831.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Core Molding Technologies

Hedge funds have recently bought and sold shares of the business. Bard Associates Inc. purchased a new position in Core Molding Technologies in the 3rd quarter worth about $2,689,000. Allspring Global Investments Holdings LLC raised its position in Core Molding Technologies by 92.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 134,053 shares of the industrial products company's stock worth $2,755,000 after buying an additional 64,338 shares during the last quarter. Teton Advisors LLC purchased a new position in Core Molding Technologies in the 3rd quarter worth about $1,744,000. 22NW LP raised its position in Core Molding Technologies by 16.5% in the 3rd quarter. 22NW LP now owns 222,738 shares of the industrial products company's stock worth $4,577,000 after buying an additional 31,516 shares during the last quarter. Finally, Royce & Associates LP raised its position in Core Molding Technologies by 17.3% in the 3rd quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company's stock worth $4,758,000 after buying an additional 34,188 shares during the last quarter. Hedge funds and other institutional investors own 58.79% of the company's stock.

Core Molding Technologies Company Profile

Core Molding Technologies is a publicly traded manufacturer specializing in engineered composite and polymer solutions for a wide array of industrial applications. The company's core business includes the design, tooling and high-volume production of fiberglass-reinforced plastics, advanced polyurethane systems, structural composites and specialty coatings. Its products find use in commercial vehicles, off-highway equipment, defense, power sports, recreation and industrial markets.

Core Molding offers end-to-end services ranging from digital design and prototyping to mold fabrication, process development and full-scale manufacturing.

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