Carpenter Technology Corporation (NYSE:CRS) Receives $556.75 Average Price Target from Brokerages

Shares of Carpenter Technology Corporation (NYSE:CRS) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $562.8750.

A number of research analysts recently weighed in on CRS shares. JPMorgan Chase & Co. cut their price objective on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday. Susquehanna decreased their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research report on Friday. Wells Fargo & Company increased their price target on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd.

Carpenter Technology Trading Up 4.5%

Shares of NYSE:CRS opened at $543.18 on Thursday. The stock has a market capitalization of $26.99 billion, a PE ratio of 51.63, a P/E/G ratio of 1.46 and a beta of 1.25. Carpenter Technology has a 1 year low of $228.00 and a 1 year high of $625.98. The firm has a fifty day moving average price of $555.13 and a 200 day moving average price of $449.28. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The company had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same period last year, the company earned $2.21 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. Analysts expect that Carpenter Technology will post 12.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology in the second quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Carpenter Technology during the 1st quarter worth about $30,000. SJS Investment Consulting Inc. boosted its stake in Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares during the period. Spire Wealth Management boosted its stake in Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 84 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Carpenter Technology during the 2nd quarter valued at approximately $43,000. Institutional investors own 92.03% of the company’s stock.

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