Analysts Set Carpenter Technology Co. (NYSE:CRS) Target Price at $139.60

Carpenter Technology Co. (NYSE:CRS) has earned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $139.60.

A number of brokerages recently weighed in on CRS. Benchmark upped their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. TD Cowen boosted their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective on the stock. BTIG Research boosted their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Northcoast Research reiterated a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds have recently bought and sold shares of CRS. Wolf Hill Capital Management LP bought a new stake in Carpenter Technology during the second quarter valued at $73,850,000. Bayberry Capital Partners LP bought a new stake in Carpenter Technology during the first quarter valued at $35,887,000. American Century Companies Inc. increased its stake in Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after purchasing an additional 479,047 shares during the last quarter. Hawk Ridge Capital Management LP increased its stake in Carpenter Technology by 199.1% during the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock valued at $48,741,000 after purchasing an additional 458,227 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Carpenter Technology by 82.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after purchasing an additional 438,781 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 3.8 %

CRS stock opened at $159.89 on Friday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 60.79, a PEG ratio of 0.89 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. Carpenter Technology has a one year low of $58.87 and a one year high of $166.51. The company has a 50 day moving average price of $144.77 and a two-hundred day moving average price of $114.77.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. During the same period in the previous year, the company earned $0.78 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Carpenter Technology will post 6.09 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

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.