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

Shares of Carpenter Technology Co. (NYSE:CRS) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and five have assigned 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 research analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective on the stock.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds have recently bought and sold shares of the company. Strengthening Families & Communities LLC grew 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 acquiring an additional 100 shares during the period. KBC Group NV boosted its position in shares of Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 161 shares in the last quarter. Arete Wealth Advisors LLC grew its stake in Carpenter Technology by 7.5% during the third 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. EverSource Wealth Advisors LLC increased its holdings in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 178 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock valued at $353,000 after buying an additional 180 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 1.2 %

Shares of CRS opened at $186.12 on Friday. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 41.45, a PEG 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. 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 fifty day moving average of $179.13 and a 200-day moving average of $153.10.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 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 for the quarter, compared to analyst estimates of $742.96 million. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Carpenter Technology will post 6.74 earnings per share for the current fiscal 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.