Brokerages Set Carpenter Technology Co. (NYSE:CRS) PT at $139.60

Carpenter Technology Co. (NYSE:CRS) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $153.00.

A number of equities research analysts have recently weighed in on CRS shares. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price for the company.

Carpenter Technology Trading Down 0.9 %

Shares of CRS stock opened at $194.46 on Friday. Carpenter Technology has a 1-year low of $58.87 and a 1-year high of $198.24. The firm has a market cap of $9.69 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46. The company has a 50-day moving average of $165.95 and a two-hundred day moving average of $137.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. On average, analysts predict that Carpenter Technology will post 6.61 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology’s payout ratio is 17.82%.

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds have recently bought and sold shares of CRS. Comerica Bank increased its stake in shares of Carpenter Technology by 170.3% during the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after buying an additional 42,449 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $1,208,000. Blair William & Co. IL acquired a new stake in shares of Carpenter Technology in the 1st quarter valued at $307,000. Natixis Advisors LLC lifted its position in shares of Carpenter Technology by 6.0% during the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares in the last quarter. Institutional investors and hedge funds 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.