Carpenter Technology Co. (NYSE:CRS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Carpenter Technology Co. (NYSE:CRS) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $153.00.

A number of research analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock.

Carpenter Technology Stock Up 1.6 %

CRS stock opened at $172.61 on Tuesday. The company has a market capitalization of $8.60 billion, a P/E ratio of 38.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. Carpenter Technology has a 12 month low of $58.87 and a 12 month high of $198.24. The firm’s fifty day simple moving average is $174.38 and its 200-day simple moving average is $147.02. 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 (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 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 analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. As a group, equities research analysts forecast that Carpenter Technology will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Hedge Funds Weigh In On Carpenter Technology

A number of large investors have recently added to or reduced their stakes in CRS. Tidal Investments LLC increased its stake in shares of Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Carpenter Technology by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after buying an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP purchased a new stake in Carpenter Technology during the 3rd quarter worth approximately $25,262,000. Natixis Advisors LLC raised its holdings in shares of Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after acquiring an additional 103,559 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.