Brokerages Set Carpenter Technology Co. (NYSE:CRS) PT at $153.00

Carpenter Technology Co. (NYSE:CRS) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $153.00.

Several analysts have weighed in on CRS shares. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price on the stock.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in shares of Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after purchasing an additional 10,094 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after purchasing an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $25,262,000. Natixis Advisors LLC grew its holdings in Carpenter Technology by 6.0% during the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after acquiring an additional 103,559 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Performance

NYSE CRS opened at $193.29 on Friday. The firm has a 50-day moving average of $179.74 and a 200-day moving average of $154.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock has a market cap of $9.63 billion, a PE ratio of 43.05, a P/E/G ratio of 0.90 and a beta of 1.55. Carpenter Technology has a 52-week low of $58.87 and a 52-week high of $198.24.

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

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.