Carpenter Technology Co. (NYSE:CRS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Carpenter Technology Co. (NYSE:CRS) have received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $130.60.

A number of research firms recently commented on CRS. TD Cowen lifted their target price on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BTIG Research initiated coverage on Carpenter Technology in a report on Wednesday, June 26th. They set a “buy” rating and a $120.00 target price for the company. Benchmark boosted their price target on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target for the company. Finally, Northcoast Research reissued a “sell” rating and issued a $89.00 price target on shares of Carpenter Technology in a report on Friday, June 14th.

Insider Activity

In other news, Director Steven E. Karol sold 31,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Steven E. Karol sold 31,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James D. Dee sold 23,518 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total value of $2,616,612.68. Following the completion of the sale, the senior vice president now owns 84,798 shares of the company’s stock, valued at $9,434,625.48. The disclosure for this sale can be found here. Insiders sold 59,678 shares of company stock worth $6,261,693 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Carpenter Technology

Several large investors have recently made changes to their positions in the company. Legato Capital Management LLC purchased a new stake in shares of Carpenter Technology during the second quarter worth approximately $467,000. Dearborn Partners LLC purchased a new stake in shares of Carpenter Technology during the second quarter worth approximately $323,000. Louisiana State Employees Retirement System increased its position in shares of Carpenter Technology by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the basic materials company’s stock worth $2,740,000 after purchasing an additional 500 shares in the last quarter. Shelton Wealth Management LLC purchased a new stake in shares of Carpenter Technology during the second quarter worth approximately $1,110,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Carpenter Technology during the second quarter worth approximately $237,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $140.78 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.45 and a current ratio of 3.41. The company has a market cap of $6.98 billion, a PE ratio of 53.53 and a beta of 1.44. The business has a 50-day simple moving average of $109.68 and a two-hundred day simple moving average of $86.49. Carpenter Technology has a fifty-two week low of $56.42 and a fifty-two week high of $144.40.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm had revenue of $798.70 million during the quarter, compared to the consensus estimate of $763.76 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Carpenter Technology will post 5.69 EPS 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.