Core Molding Technologies (NYSEAMERICAN:CMT) Shares Pass Above 50-Day Moving Average – Time to Sell?

Core Molding Technologies Inc (NYSEAMERICAN:CMT) passed above its fifty day moving average during trading on Friday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

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

Core Molding Technologies Stock Performance

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 company has a market cap of $250.88 million, a P/E ratio of 20.98 and a beta of 0.33. The stock’s fifty day moving average price is $21.00 and its two-hundred day moving average price is $19.84.

Core Molding Technologies (NYSEAMERICAN:CMT) last announced its quarterly earnings data on Tuesday, March 10th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.23 by $0.24. The business had revenue of $74.68 million during the quarter, compared to the consensus estimate of $66.44 million. Core Molding Technologies had a net margin of 4.09% and a return on equity of 7.26%. As a group, equities analysts predict that Core Molding Technologies Inc will post 1.64 earnings per share for the current year.

Core Molding Technologies declared that its board has approved a share repurchase program on Thursday, March 12th that authorizes the company to repurchase $7,500.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 4,581,831.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Core Molding Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in shares of Core Molding Technologies by 83.8% during the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock worth $34,000 after buying an additional 763 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Core Molding Technologies by 70.8% in the 4th quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 803 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Core Molding Technologies during the 4th quarter valued at $43,000. JPMorgan Chase & Co. grew its position in Core Molding Technologies by 18.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Core Molding Technologies by 34.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 2,593 shares during the last quarter. 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.