Zacks Research Issues Optimistic Forecast for CRS Earnings

Carpenter Technology Corporation (NYSE:CRS) – Equities researchers at Zacks Research upped their FY2028 earnings per share estimates for Carpenter Technology in a note issued to investors on Thursday, January 8th. Zacks Research analyst Team now expects that the basic materials company will post earnings per share of $13.96 for the year, up from their prior forecast of $13.92. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $6.83 per share.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.30. The firm had revenue of $733.70 million during the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS.

Several other research analysts also recently commented on the company. Jones Trading assumed coverage on Carpenter Technology in a report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective on the stock. TD Cowen lifted their price target on Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price on the stock in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average price target of $371.14.

Carpenter Technology Stock Performance

NYSE:CRS opened at $320.57 on Monday. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 1.35 and a beta of 1.29. The business has a 50 day moving average of $321.87 and a 200 day moving average of $281.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. Carpenter Technology has a 1-year low of $138.61 and a 1-year high of $348.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRS. State Street Corp grew its stake in Carpenter Technology by 10.1% in the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock worth $514,687,000 after purchasing an additional 192,533 shares during the period. SurgoCap Partners LP boosted its holdings in shares of Carpenter Technology by 29.5% during the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after buying an additional 272,896 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Carpenter Technology by 20.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock worth $154,840,000 after buying an additional 107,552 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Carpenter Technology by 111.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock worth $151,731,000 after acquiring an additional 325,919 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Carpenter Technology by 5.8% in the 3rd quarter. Barclays PLC now owns 591,981 shares of the basic materials company’s stock worth $145,355,000 after acquiring an additional 32,645 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Activity

In related news, VP Elizabeth A. Socci sold 3,900 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the transaction, the vice president directly owned 9,594 shares of the company’s stock, valued at $3,082,072.50. This represents a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian J. Malloy sold 4,130 shares of Carpenter Technology stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the sale, the chief operating officer directly owned 78,875 shares in the company, valued at approximately $23,940,140. The trade was a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 79,358 shares of company stock valued at $24,254,008. Corporate insiders own 2.90% of the company’s stock.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.