Carpenter Technology Co. (NYSE:CRS) Receives $139.60 Consensus Price Target from Brokerages

Shares of Carpenter Technology Co. (NYSE:CRS) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $153.00.

Several research analysts have recently issued reports on the company. BTIG Research increased their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark reiterated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research report on Friday. They set an “overweight” rating and a $220.00 price target on the stock.

Institutional Trading of Carpenter Technology

A number of large investors have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC raised its holdings in Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after buying an additional 100 shares during the period. CWM LLC raised its holdings in shares of Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 103 shares during the period. GAMMA Investing LLC lifted its position in shares of Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 136 shares in the last quarter. KBC Group NV lifted its position in shares of Carpenter Technology by 13.5% in the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 161 shares in the last quarter. Finally, Arete Wealth Advisors LLC boosted its stake in Carpenter Technology by 7.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock worth $384,000 after purchasing an additional 169 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Up 5.7 %

Shares of Carpenter Technology stock opened at $190.97 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.52 billion, a P/E ratio of 42.53, a P/E/G ratio of 0.92 and a beta of 1.46. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $192.34. The business has a 50-day moving average price of $162.86 and a 200 day moving average price of $135.83.

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. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, sell-side analysts forecast that Carpenter Technology will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s payout ratio is 17.82%.

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.