Carpenter Technology Co. (NYSE:CRS) Receives $153.00 Consensus Target Price from Analysts

Shares of Carpenter Technology Co. (NYSE:CRS) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $153.00.

CRS has been the topic of several analyst reports. Benchmark restated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective on the stock.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $193.29 on Friday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 0.90 and a beta of 1.55. Carpenter Technology has a 1-year low of $58.87 and a 1-year high of $198.24. The firm’s 50-day moving average price is $179.74 and its two-hundred day moving average price is $154.41.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the business earned $0.88 earnings per share. Carpenter Technology’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts predict that Carpenter Technology will post 6.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carpenter Technology

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Carpenter Technology by 17.0% in the fourth quarter. GAMMA Investing LLC now owns 2,457 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 357 shares in the last quarter. Tyro Capital Management LLC lifted its stake in Carpenter Technology by 38.8% in the third quarter. Tyro Capital Management LLC now owns 148,749 shares of the basic materials company’s stock valued at $23,737,000 after acquiring an additional 41,601 shares during the last quarter. Franklin Resources Inc. lifted its stake in Carpenter Technology by 9.7% in the third quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company’s stock valued at $57,891,000 after acquiring an additional 32,442 shares during the last quarter. Tidal Investments LLC lifted its stake in Carpenter Technology by 91.9% in the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after acquiring an additional 10,094 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology in the third quarter valued at $80,000. 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.