Carpenter Technology Corporation (NYSE:CRS) Receives $577.25 Average PT from Brokerages

Shares of Carpenter Technology Corporation (NYSE:CRS) have received an average recommendation of “Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $577.25.

CRS has been the topic of a number of recent research reports. BTIG Research boosted their price target on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Susquehanna decreased their target price on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, KeyCorp dropped their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd.

Carpenter Technology Trading Up 0.2%

Shares of CRS stock opened at $477.32 on Monday. Carpenter Technology has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The stock’s fifty day moving average is $557.70 and its two-hundred day moving average is $474.39. The firm has a market capitalization of $23.66 billion, a P/E ratio of 45.37, a PEG ratio of 1.71 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. The business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Research analysts expect that Carpenter Technology will post 13.09 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s payout ratio is 7.60%.

Carpenter Technology News Roundup

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2027 EPS to $12.80 from $12.75, FY2028 EPS to $15.08 from $14.99, and FY2029 EPS to $18.44 from $18.31. Quarterly estimates for 2027 and 2028 were also increased by $0.01 to $0.03 per share, signaling improving expectations for Carpenter Technology’s future profitability.
• Positive Sentiment: Zacks Research maintained a “Strong-Buy” rating on CRS. Its forecasts imply continued earnings growth beyond the current fiscal year, with FY2029 EPS projected well above the current-year consensus estimate of $13.08.
• Neutral Sentiment: The revisions were incremental rather than major changes to the earnings outlook. With CRS trading at a relatively elevated forward valuation after a strong 12-month advance, investors may be taking profits or demanding stronger near-term catalysts before bidding the shares higher.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the completion of the sale, the director directly owned 1,953 shares in the company, valued at $963,121.95. This represents a 18.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony R. Thene sold 57,456 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the sale, the chief executive officer directly owned 439,631 shares of the company’s stock, valued at $212,737,440.90. This trade represents a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 109,721 shares of company stock valued at $53,091,824. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LP increased its position in Carpenter Technology by 267.9% during the second quarter. Corient Private Wealth LP now owns 6,858 shares of the basic materials company’s stock worth $4,230,000 after purchasing an additional 4,994 shares during the last quarter. Optimize Financial Inc. acquired a new position in Carpenter Technology in the 2nd quarter valued at about $299,000. Wellington Grp LLC boosted its holdings in Carpenter Technology by 36.5% in the 2nd quarter. Wellington Grp LLC now owns 2,066 shares of the basic materials company’s stock valued at $1,274,000 after purchasing an additional 552 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Carpenter Technology by 27.1% in the 2nd quarter. HighTower Advisors LLC now owns 19,086 shares of the basic materials company’s stock valued at $11,773,000 after buying an additional 4,073 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $7,699,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Company Profile

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.