Carpenter Technology Corporation (NYSE:CRS) Receives Average Recommendation of “Buy” from Analysts

Carpenter Technology Corporation (NYSE:CRS) has been assigned a consensus rating of “Buy” from the ten analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $556.75.

CRS has been the subject of several research analyst reports. Zacks Research raised Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Susquehanna upped their target price on Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research report on Thursday, July 9th. KeyCorp raised their target price on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Wells Fargo & Company lifted their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, TD Cowen boosted their price target on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, July 13th.

Insider Activity at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. The trade was a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at $317,895. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC boosted its position in shares of Carpenter Technology by 1.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock worth $708,000 after purchasing an additional 19 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Carpenter Technology by 3.7% in the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after buying an additional 32 shares in the last quarter. Abel Hall LLC increased its position in Carpenter Technology by 3.2% in the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after buying an additional 32 shares in the last quarter. Brown Miller Wealth Management LLC raised its stake in Carpenter Technology by 2.4% during the 4th quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock worth $444,000 after buying an additional 33 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in Carpenter Technology by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after buying an additional 34 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

CRS stock opened at $529.94 on Thursday. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 55.78, a PEG ratio of 1.58 and a beta of 1.22. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. Carpenter Technology has a 12-month low of $228.00 and a 12-month high of $625.98. The company’s fifty day simple moving average is $549.95 and its 200 day simple moving average is $445.10.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Carpenter Technology will post 10.58 earnings per share for the current year.

About Carpenter Technology

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.