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Commercial Metals (CMC) Looks Good: Stock Adds 6.8% in Session
Commercial Metals (CMC - Free Report) was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $19.48–$21.47 in the past one-month time frame, witnessed a sharp increase yesterday.
The shares rose after the company entered into a definitive agreement to acquire certain U.S. rebars steel mill and fabrication assets from Gerdau S.A.
The company has seen no estimate revisions over the past one month, and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Commercial Metals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Commercial Metals Company Price and Consensus
Commercial Metals Company Price and Consensus | Commercial Metals Company Quote
A better ranked stock in the Steel - Producers industry is Schnitzer Steel Industries, Inc.. which also carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is CMC going up? Or down? Predict to see what others think: Up or Down
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