Commercial Metals Company (CMC - Free Report) was a big mover last session, as its shares rose a little over 20% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $15.28 to $17.02 in the past one-month time frame.
Over the last 30 days, the company witnessed one positive estimate revision and six negative estimate revisions while the Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Commercial Metals currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the steel-producers space is POSCO (PKX - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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