Brokerages Set Carpenter Technology Co. (NYSE:CRS) Target Price at $167.17

Carpenter Technology Co. (NYSE:CRS) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, 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 1-year price target among brokerages that have covered the stock in the last year is $167.17.

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

Carpenter Technology Trading Up 0.1 %

CRS stock opened at $181.44 on Thursday. The firm has a fifty day moving average price of $193.50 and a 200 day moving average price of $179.63. Carpenter Technology has a fifty-two week low of $70.20 and a fifty-two week high of $213.66. The firm has a market cap of $9.06 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

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

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Institutional Trading of Carpenter Technology

Hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new stake in Carpenter Technology during the fourth quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in Carpenter Technology during the fourth quarter valued at approximately $44,000. CIBC Private Wealth Group LLC grew its stake in Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after buying an additional 127 shares during the last quarter. UMB Bank n.a. boosted its holdings in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology in the 3rd quarter valued at approximately $80,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.