Northcoast Research Reiterates “Neutral” Rating for Carpenter Technology (NYSE:CRS)

Carpenter Technology (NYSE:CRS)‘s stock had its “neutral” rating reaffirmed by Northcoast Research in a report released on Monday, Marketbeat reports.

Separately, TD Cowen raised their price objective on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $102.62 on Monday. The stock’s 50 day moving average price is $75.58 and its 200 day moving average price is $69.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 39.02 and a beta of 1.47. Carpenter Technology has a 12 month low of $44.40 and a 12 month high of $104.85.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company had revenue of $684.90 million for the quarter, compared to the consensus estimate of $707.73 million. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology will post 3.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the sale, the director now owns 244,126 shares in the company, valued at approximately $24,551,751.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the transaction, the director now owns 244,126 shares in the company, valued at $24,551,751.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the sale, the vice president now owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRS. Phocas Financial Corp. acquired a new position in shares of Carpenter Technology in the fourth quarter worth $3,396,000. Consolidated Portfolio Review Corp acquired a new stake in shares of Carpenter Technology during the 4th quarter valued at about $1,297,000. Penserra Capital Management LLC grew its stake in shares of Carpenter Technology by 6,477.1% in the 3rd quarter. Penserra Capital Management LLC now owns 37,884 shares of the basic materials company’s stock valued at $2,546,000 after buying an additional 37,308 shares in the last quarter. GAMMA Investing LLC acquired a new position in Carpenter Technology in the fourth quarter worth approximately $100,000. Finally, Kestra Advisory Services LLC raised its position in Carpenter Technology by 7.4% during the third quarter. Kestra Advisory Services LLC now owns 7,256 shares of the basic materials company’s stock valued at $488,000 after acquiring an additional 503 shares in 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.