Carpenter Technology (NYSE:CRS) Stock Rating Upgraded by Wells Fargo & Company

Carpenter Technology (NYSE:CRS) was upgraded by Wells Fargo & Company to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

CRS has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. KeyCorp began coverage on shares of Carpenter Technology in a report on Wednesday, March 25th. They issued an “overweight” rating and a $380.00 price target on the stock. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Susquehanna started coverage on Carpenter Technology in a research report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus target price of $387.11.

Carpenter Technology Trading Up 2.5%

Shares of NYSE CRS opened at $404.16 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The stock has a market capitalization of $20.13 billion, a P/E ratio of 46.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Carpenter Technology has a 1-year low of $138.61 and a 1-year high of $421.12. The business has a fifty day moving average price of $373.64 and a 200 day moving average price of $324.73.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.13. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Equities research analysts expect that Carpenter Technology will post 6.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the sale, the senior vice president owned 73,739 shares in the company, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven E. Karol sold 3,500 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the completion of the transaction, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,300 shares of company stock valued at $8,664,044 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

A number of institutional investors and hedge funds have recently modified their holdings of CRS. Meeder Advisory Services Inc. boosted its position in Carpenter Technology by 3.7% in the fourth 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 during the last quarter. Abel Hall LLC raised its position in Carpenter Technology by 3.2% during the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after buying an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC raised its position 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 last quarter. Northwestern Mutual Investment Management Company LLC lifted 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 valued at $3,509,000 after acquiring an additional 34 shares during the period. Finally, Clearstead Advisors LLC lifted its stake in Carpenter Technology by 17.9% during the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.