Carpenter Technology Corporation (NYSE:CRS) Given Average Recommendation of “Buy” by Brokerages

Shares of Carpenter Technology Corporation (NYSE:CRS) have been given an average recommendation of “Buy” by the ten analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $556.75.

CRS has been the subject of several research reports. KeyCorp increased their target price on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Susquehanna raised their price objective on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a report on Thursday, July 9th. Zacks Research upgraded shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th.

Insider Buying and Selling at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director owned 750 shares in the company, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Woodline Partners LP acquired a new stake in shares of Carpenter Technology in the first quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after acquiring an additional 1,701 shares during the last quarter. Focus Partners Wealth boosted its holdings in Carpenter Technology by 7.3% in the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 314 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Carpenter Technology during the 2nd quarter valued at approximately $80,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Carpenter Technology during the 2nd quarter valued at approximately $533,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 5.4%

Shares of CRS opened at $529.94 on Thursday. Carpenter Technology has a 52 week low of $228.00 and a 52 week high of $625.98. The stock has a market capitalization of $26.33 billion, a price-to-earnings ratio of 55.78, a PEG ratio of 1.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The stock has a fifty day moving average of $549.95 and a 200-day moving average of $445.10.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the previous year, the company posted $1.88 EPS. Carpenter Technology’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carpenter Technology will post 10.58 earnings per share for the current fiscal year.

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.