Carpenter Technology Co. (NYSE:CRS) Given Average Rating of “Moderate Buy” by Analysts

Carpenter Technology Co. (NYSE:CRS) has received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $167.17.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a research note on Friday, January 31st.

Carpenter Technology Price Performance

NYSE:CRS opened at $180.32 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $9.01 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.93 and a beta of 1.55. Carpenter Technology has a 12 month low of $63.58 and a 12 month high of $213.66. The business’s 50-day moving average is $194.14 and its 200 day moving average is $174.35.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, equities research analysts forecast that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRS. Kestra Investment Management LLC bought a new position in Carpenter Technology in the fourth quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new stake in Carpenter Technology during the fourth quarter worth $44,000. CIBC Private Wealth Group LLC lifted its holdings in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after buying an additional 127 shares during the period. UMB Bank n.a. lifted its holdings in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology during the third quarter worth $65,000. 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.