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

Shares of Carpenter Technology Co. (NYSE:CRS) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $153.00.

Several equities analysts recently issued reports on CRS shares. Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company.

Institutional Trading of Carpenter Technology

A number of institutional investors have recently added to or reduced their stakes in the business. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology in the second quarter valued at about $33,000. National Bank of Canada FI bought a new position in Carpenter Technology during the second quarter worth $49,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Carpenter Technology by 58.0% in the 2nd 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 during the last quarter. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology in the third quarter valued at approximately $64,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Carpenter Technology during the 3rd quarter worth about $65,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Shares of CRS opened at $169.59 on Tuesday. The firm’s 50 day moving average price is $173.91 and its 200 day moving average price is $145.56. 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 company has a market cap of $8.45 billion, a P/E ratio of 37.77, a PEG ratio of 0.90 and a beta of 1.52. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $198.24.

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

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.47%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

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.