Carpenter Technology Co. (NYSE:CRS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Carpenter Technology Co. (NYSE:CRS) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $153.00.

A number of equities analysts recently commented on the company. Benchmark restated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock.

Carpenter Technology Trading Up 0.9 %

Shares of NYSE:CRS opened at $175.57 on Tuesday. The firm has a fifty day moving average of $173.49 and a two-hundred day moving average of $144.82. 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 has a 12-month low of $58.87 and a 12-month high of $198.24. The firm has a market capitalization of $8.75 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts expect that Carpenter Technology will post 6.74 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds have recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology in the second quarter worth about $33,000. nVerses Capital LLC acquired a new stake in Carpenter Technology in the 3rd quarter valued at approximately $64,000. Banque Cantonale Vaudoise bought a new position in Carpenter Technology in the 3rd quarter worth approximately $65,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology during the second quarter worth approximately $49,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 178 shares during the period. 92.03% of the stock is currently owned by institutional investors.

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.