Carpenter Technology Co. (NYSE:CRS) Receives $153.00 Consensus PT from Analysts

Carpenter Technology Co. (NYSE:CRS) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $153.00.

CRS has been the topic of several research analyst reports. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CRS. FMR LLC increased its holdings in shares of Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Carpenter Technology in the 2nd quarter worth $73,850,000. American Century Companies Inc. raised its holdings in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after acquiring an additional 479,047 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology in the third quarter valued at about $25,262,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $198.64 on Friday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Carpenter Technology has a 12-month low of $58.87 and a 12-month high of $202.25. The business’s 50 day moving average is $181.21 and its two-hundred day moving average is $155.62. The company has a market capitalization of $9.90 billion, a P/E ratio of 44.24, a P/E/G ratio of 0.87 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Analysts expect that Carpenter Technology will post 6.74 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. Carpenter Technology’s dividend payout ratio is presently 17.82%.

About Carpenter Technology

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.