Carpenter Technology (NYSE:CRS) Research Coverage Started at BTIG Research

Investment analysts at BTIG Research assumed coverage on shares of Carpenter Technology (NYSE:CRS) in a research report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $120.00 price target on the basic materials company’s stock. BTIG Research’s price target points to a potential upside of 17.61% from the company’s current price.

Other equities research analysts have also issued reports about the company. TD Cowen upped their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a report on Tuesday. They issued a “buy” rating and a $144.00 price target on the stock. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Carpenter Technology in a research note on Tuesday, May 28th. Finally, Northcoast Research reissued a “sell” rating and issued a $89.00 target price on shares of Carpenter Technology in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

Carpenter Technology Trading Up 3.6 %

NYSE CRS opened at $102.03 on Wednesday. The company has a market cap of $5.06 billion, a P/E ratio of 38.79 and a beta of 1.47. Carpenter Technology has a 12 month low of $51.34 and a 12 month high of $112.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The company has a 50-day moving average of $100.42 and a 200-day moving average of $79.22.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The firm had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. Carpenter Technology’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that Carpenter Technology will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Steven E. Karol sold 31,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the sale, the director now directly owns 244,126 shares in the company, valued at $24,551,751.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the sale, the director now directly owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the transaction, the vice president now directly owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The disclosure for this sale can be found here. Insiders have sold 59,678 shares of company stock valued at $6,261,693 in the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new position in Carpenter Technology in the fourth quarter worth $29,000. Whittier Trust Co. acquired a new position in shares of Carpenter Technology in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. bought a new stake in shares of Carpenter Technology during the 4th quarter valued at about $31,000. Westend Capital Management LLC acquired a new stake in Carpenter Technology during the first quarter worth about $36,000. Finally, Covestor Ltd lifted its holdings in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 685 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

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.