Carpenter Technology Co. (NYSE:CRS) Receives $153.00 Average Target Price from Brokerages

Carpenter Technology Co. (NYSE:CRS) has been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $153.00.

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

Hedge Funds Weigh In On Carpenter Technology

Several hedge funds have recently bought and sold shares of the business. Kimelman & Baird LLC bought a new stake in shares of Carpenter Technology during the second quarter worth $33,000. National Bank of Canada FI purchased a new stake in Carpenter Technology in the 2nd quarter valued at about $49,000. UMB Bank n.a. boosted its position in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after buying an additional 191 shares during the period. EverSource Wealth Advisors LLC grew its stake in Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Carpenter Technology during the third quarter worth approximately $64,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 3.0 %

CRS stock opened at $206.85 on Friday. The firm has a fifty day moving average price of $182.74 and a 200 day moving average price of $156.93. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $207.99. The firm has a market cap of $10.31 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 0.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts anticipate that Carpenter Technology will post 6.77 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. Carpenter Technology’s payout ratio is 17.82%.

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.