JPMorgan Chase & Co. Cuts Carpenter Technology (NYSE:CRS) Price Target to $700.00

Carpenter Technology (NYSE:CRS) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $705.00 to $700.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 34.96% from the stock’s current price.

CRS has been the subject of several other reports. Susquehanna decreased their price objective on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research report on Friday. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. TD Cowen raised 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. KeyCorp lifted their price target on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Finally, Wells Fargo & Company upped their price objective on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $567.38.

Carpenter Technology Stock Up 3.0%

Shares of Carpenter Technology stock traded up $14.97 on Friday, reaching $518.68. 422,641 shares of the company were exchanged, compared to its average volume of 778,337. The stock’s 50 day moving average price is $551.23 and its 200-day moving average price is $446.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology has a 1-year low of $228.00 and a 1-year high of $625.98. The company has a market cap of $25.77 billion, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $863.33 million. During the same quarter in the previous year, the business posted $2.21 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Carpenter Technology will post 10.58 EPS for the current year.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 business. State Street Corp grew its stake in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock worth $514,687,000 after purchasing an additional 192,533 shares during the period. Invesco Ltd. grew its position in Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after buying an additional 327,302 shares during the period. Egerton Capital UK LLP grew its position in Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after buying an additional 178,679 shares during the period. SurgoCap Partners LP increased its holdings in Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after buying an additional 272,896 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Carpenter Technology by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after buying an additional 78,588 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Key Stories Impacting Carpenter Technology

Here are the key news stories impacting Carpenter Technology this week:

• Positive Sentiment: Carpenter Technology reported fiscal fourth-quarter earnings of $3.23 per share, above the $3.09 consensus estimate and up from $2.21 a year earlier. The company also reported 12.6% year-over-year revenue growth, supporting investor confidence in profitability and operating execution. Carpenter Technology Q4 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management entered fiscal 2027 with record profitability, rising aerospace demand and an ambitious target of $1.2 billion to $1.3 billion in operating income by fiscal 2029. The growth outlook and aerospace exposure are key catalysts for the stock’s advance. CRS Q4 Earnings Call Highlights Strong Growth Outlook
• Positive Sentiment: BTIG Research raised its price target from $450 to $620 and upgraded its rating to “buy,” implying substantial potential upside based on the company’s earnings momentum and long-term growth prospects. BTIG Research price-target update
• Positive Sentiment: Susquehanna maintained a “positive” rating despite lowering its price target from $680 to $600, indicating analysts still see upside after the stock’s significant appreciation. Susquehanna price-target update
• Negative Sentiment: Quarterly revenue of $679.7 million fell well short of the $863.3 million consensus estimate. Although revenue grew year over year, the large miss may raise questions about demand timing, product mix or the pace of future growth.

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.