Carpenter Technology (NYSE:CRS) Stock Price Target Cut by BTIG Research

Carpenter Technology (NYSE:CRS) had its target price dropped by stock analysts at BTIG Research from $620.00 to $470.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. BTIG Research‘s price objective would suggest a potential upside of 60.77% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Carpenter Technology from $540.00 to $430.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. TD Cowen reduced their price objective on Carpenter Technology from $650.00 to $500.00 and set a “buy” rating for the company in a report on Friday, October 9th. JPMorgan Chase & Co. decreased their target price on Carpenter Technology from $700.00 to $520.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Susquehanna decreased their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Carpenter Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average price target of $497.86.

Carpenter Technology Stock Performance

NYSE CRS opened at $292.34 on Friday. The firm has a 50-day moving average of $428.25 and a 200-day moving average of $480.10. 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 has a market cap of $14.49 billion, a PE ratio of 27.79, a P/E/G ratio of 1.29 and a beta of 1.29. Carpenter Technology has a 52-week low of $262.25 and a 52-week high of $625.98.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 22nd. The basic materials company reported $3.25 EPS for the quarter, topping the consensus estimate of $3.04 by $0.21. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business had revenue of $634.80 million during the quarter, compared to the consensus estimate of $830.85 million. During the same quarter in the previous year, the firm posted $2.43 EPS. Carpenter Technology’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Carpenter Technology will post 13.30 EPS for the current year.

Insider Activity

In related news, Director Steven E. Karol sold 3,275 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the sale, the director owned 177,000 shares of the company’s stock, valued at $83,912,160. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction, the chief executive officer owned 439,631 shares in the company, valued at approximately $212,737,440.90. This trade represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 112,996 shares of company stock worth $54,644,436. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Carpenter Technology

A number of institutional investors have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth $29,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Carpenter Technology in the first quarter worth $30,000. SJS Investment Consulting Inc. raised its stake in Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in Carpenter Technology in the second quarter valued at about $55,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Carpenter Technology in the second quarter valued at about $56,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology News Summary

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

• Positive Sentiment: Carpenter reported adjusted EPS of $3.25, above analyst estimates of roughly $2.97–$3.04 and up from $2.43 a year earlier. Carpenter Technology Q1 Earnings Beat Estimates
• Positive Sentiment: First-quarter operating income reached a record level, rising 28% year over year, supported by productivity improvements, favorable product mix and pricing actions. The Specialty Alloys Operations segment generated a 37.7% adjusted operating margin. Carpenter Technology Reports First Quarter Fiscal Year 2027 Results
• Positive Sentiment: Management said demand is accelerating in the commercial aerospace supply chain, driving increased bookings. It also maintained its fiscal 2027 free-cash-flow outlook of $400 million to $430 million. Carpenter Technology Fiscal 2029 Operating Income Target
• Neutral Sentiment: The company established a fiscal 2029 operating-income target of $1.2 billion to $1.3 billion, offering a longer-term growth objective but not an immediate increase to the fiscal 2027 outlook. Carpenter Technology Fiscal 2029 Operating Income Target
• Negative Sentiment: Revenue of $634.8 million increased 8.8% year over year but came in well below the reported consensus estimate of $830.85 million. Investors appear to be treating the sales miss and unchanged near-term outlook as more important than the EPS beat. Carpenter Technology Stock Price Sinks After Q1 Earnings Beat
• Negative Sentiment: Commentary also raised concerns that Carpenter Technology’s elevated valuation leaves little room for execution setbacks, intensifying the market reaction to the revenue miss despite strong profitability and aerospace demand. Why Carpenter Technology Stock Crashed After Earnings

About Carpenter Technology

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.