JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Carpenter Technology (NYSE:CRS) Stock

Carpenter Technology (NYSE:CRS) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $220.00 to $235.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.59% from the stock’s previous close.

Separately, Benchmark reaffirmed a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $155.50.

Carpenter Technology Stock Down 0.9 %

Shares of NYSE:CRS opened at $210.59 on Monday. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 0.98 and a beta of 1.55. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $213.65. The firm’s 50-day simple moving average is $186.11 and its 200-day simple moving average is $161.27. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, equities research analysts predict that Carpenter Technology will post 6.77 earnings per share for the current year.

Institutional Trading of Carpenter Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. JB Capital LLC boosted its stake in shares of Carpenter Technology by 3.3% during the fourth quarter. JB Capital LLC now owns 14,265 shares of the basic materials company’s stock valued at $2,421,000 after acquiring an additional 457 shares during the last quarter. Manuka Financial LLC purchased a new position in Carpenter Technology in the 4th quarter valued at about $368,000. Nvest Financial LLC acquired a new stake in shares of Carpenter Technology during the 4th quarter worth about $255,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Carpenter Technology during the fourth quarter worth about $243,000. Finally, SteelPeak Wealth LLC raised its position in shares of Carpenter Technology by 25.9% in the fourth quarter. SteelPeak Wealth LLC now owns 3,755 shares of the basic materials company’s stock valued at $637,000 after buying an additional 773 shares during the last quarter. 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.