JPMorgan Chase & Co. Boosts Carpenter Technology (NYSE:CRS) Price Target to $235.00

Carpenter Technology (NYSE:CRS) had its target price increased by JPMorgan Chase & Co. from $220.00 to $235.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.99% from the company’s current price.

Separately, Benchmark reiterated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.50.

Carpenter Technology Trading Up 3.4 %

NYSE:CRS opened at $206.15 on Monday. The firm has a market capitalization of $10.28 billion, a P/E ratio of 45.91, a PEG ratio of 0.98 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology has a one year low of $58.87 and a one year high of $213.65. The company’s 50-day simple moving average is $186.94 and its 200 day simple moving average is $162.58.

Hedge Funds Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after acquiring an additional 1,108,963 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after purchasing an additional 200,364 shares during the period. Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $25,262,000. WCM Investment Management LLC bought a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $18,868,000. Finally, Holocene Advisors LP purchased a new position in shares of Carpenter Technology in the third quarter worth approximately $17,337,000. Institutional investors own 92.03% of the company’s stock.

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.