Carpenter Technology Co. (NYSE:CRS) Receives $167.17 Consensus Target Price from Analysts

Carpenter Technology Co. (NYSE:CRS) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $167.17.

Several equities research analysts have commented on CRS shares. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st.

Hedge Funds Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology in the fourth quarter worth about $25,000. Ameriflex Group Inc. bought a new position in Carpenter Technology in the 4th quarter worth approximately $44,000. CIBC Private Wealth Group LLC boosted its position in shares of Carpenter Technology by 109.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 127 shares during the period. UMB Bank n.a. boosted its position in shares of Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 191 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology in the third quarter worth $65,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 8.4 %

NYSE:CRS opened at $186.36 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. Carpenter Technology has a one year low of $63.58 and a one year high of $213.66. The stock has a 50-day simple moving average of $193.73 and a 200 day simple moving average of $173.80.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts predict that Carpenter Technology will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Carpenter Technology’s payout ratio is 15.09%.

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.