Other research analysts also recently issued reports about the company. Cowen reissued a buy rating and issued a $27.00 price target on shares of Carpenter Technology in a report on Friday, May 1st. Zacks Investment Research downgraded Carpenter Technology from a hold rating to a strong sell rating and set a $20.00 price target for the company. in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. decreased their price target on Carpenter Technology from $49.00 to $30.00 and set a neutral rating for the company in a report on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $25.67.
Carpenter Technology stock opened at $22.59 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.67 and a debt-to-equity ratio of 0.34. Carpenter Technology has a 52 week low of $13.60 and a 52 week high of $56.33. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 6.53 and a beta of 2.19. The stock has a 50-day moving average price of $24.53 and a 200 day moving average price of $30.85.
Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Carpenter Technology had a return on equity of 10.80% and a net margin of 7.08%. The firm had revenue of $585.40 million during the quarter, compared to the consensus estimate of $573.00 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. Research analysts anticipate that Carpenter Technology will post 2.54 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Carpenter Technology by 265.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,832 shares of the basic materials company’s stock valued at $75,000 after buying an additional 2,782 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Carpenter Technology by 33.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,313 shares of the basic materials company’s stock valued at $84,000 after buying an additional 1,091 shares in the last quarter. Advisor Group Inc. increased its position in shares of Carpenter Technology by 22.5% in the fourth quarter. Advisor Group Inc. now owns 4,360 shares of the basic materials company’s stock valued at $218,000 after buying an additional 800 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Carpenter Technology by 24.9% in the first quarter. First Mercantile Trust Co. now owns 6,011 shares of the basic materials company’s stock valued at $117,000 after buying an additional 1,198 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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