Carpenter Technology (NYSE:CRS) Stock Price Target Cut by BTIG Research

Carpenter Technology (NYSE:CRS) had its price objective lowered by BTIG Research from $620.00 to $470.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. BTIG Research‘s price target would indicate a potential upside of 60.77% from the stock’s previous close.

Several other research firms have also weighed in on CRS. KeyCorp cut their target price on shares of Carpenter Technology from $608.00 to $465.00 and set an “overweight” rating on the stock in a report on Thursday, October 8th. Wells Fargo & Company decreased their price target on shares of Carpenter Technology from $540.00 to $430.00 and set an “equal weight” rating for the company in a report on Wednesday, September 30th. Zacks Research cut shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. JPMorgan Chase & Co. dropped their price objective on Carpenter Technology from $700.00 to $520.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Finally, Susquehanna dropped their price objective on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $497.86.

Carpenter Technology Stock Down 20.6%

Carpenter Technology stock opened at $292.34 on Friday. The company’s 50 day simple moving average is $428.25 and its 200 day simple moving average is $480.10. Carpenter Technology has a fifty-two week low of $262.25 and a fifty-two week high of $625.98. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.21. The firm had revenue of $634.80 million during the quarter, compared to analysts’ expectations of $830.85 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.43 earnings per share. As a group, sell-side analysts anticipate that Carpenter Technology will post 13.30 EPS for the current year.

Insider Buying and Selling

In other news, Director Steven E. Karol sold 3,275 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $474.08, for a total value of $1,552,612.00. Following the completion of the transaction, the director owned 177,000 shares in the company, valued at $83,912,160. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $493.15, for a total transaction of $215,999.70. Following the completion of the transaction, the director owned 1,953 shares of the company’s stock, valued at $963,121.95. This trade represents a 18.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 112,996 shares of company stock valued at $54,644,436. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Carpenter Technology

Institutional investors have recently modified their holdings of the company. Keating Financial Advisory Services Inc. bought a new stake in Carpenter Technology in the 2nd quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Carpenter Technology in the first quarter valued at $30,000. SJS Investment Consulting Inc. increased its stake in shares of Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 36 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Carpenter Technology during the 2nd quarter worth about $55,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $56,000. 92.03% of the stock is currently owned by institutional investors.

Key Carpenter Technology News

Here are the key news stories impacting Carpenter Technology this week:

• Positive Sentiment: Carpenter reported adjusted EPS of $3.25, above analyst estimates of roughly $2.97–$3.04 and up from $2.43 a year earlier. Carpenter Technology Q1 Earnings Beat Estimates
• Positive Sentiment: First-quarter operating income reached a record level, rising 28% year over year, supported by productivity improvements, favorable product mix and pricing actions. The Specialty Alloys Operations segment generated a 37.7% adjusted operating margin. Carpenter Technology Reports First Quarter Fiscal Year 2027 Results
• Positive Sentiment: Management said demand is accelerating in the commercial aerospace supply chain, driving increased bookings. It also maintained its fiscal 2027 free-cash-flow outlook of $400 million to $430 million. Carpenter Technology Fiscal 2029 Operating Income Target
• Neutral Sentiment: The company established a fiscal 2029 operating-income target of $1.2 billion to $1.3 billion, offering a longer-term growth objective but not an immediate increase to the fiscal 2027 outlook. Carpenter Technology Fiscal 2029 Operating Income Target
• Negative Sentiment: Revenue of $634.8 million increased 8.8% year over year but came in well below the reported consensus estimate of $830.85 million. Investors appear to be treating the sales miss and unchanged near-term outlook as more important than the EPS beat. Carpenter Technology Stock Price Sinks After Q1 Earnings Beat
• Negative Sentiment: Commentary also raised concerns that Carpenter Technology’s elevated valuation leaves little room for execution setbacks, intensifying the market reaction to the revenue miss despite strong profitability and aerospace demand. Why Carpenter Technology Stock Crashed After Earnings

About Carpenter Technology

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.