Stock Rating Downgrade
The Value Trend Rating for Ascent Industries Co (NASDAQ: ACNT) weakened recently from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Ascent Industries Co (NASDAQ: ACNT) stock declined by -2.1% on 4/12/24. The shares closed at $10.46. However, exceptionally low trading volume at 49% of normal accompanied the decline. The stock has been strong relative to the market over the last nine months but has declined -3.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, ACNT is expected to continue to be a modest Value Builder.
Ascent Industries has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Ascent Industries has a slightly negative Appreciation Score of 39 but a good Power Rating of 77, resulting in the High Neutral Value Trend Rating.
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