Analysts Set Carpenter Technology Co. (NYSE:CRS) Price Target at $153.00

Carpenter Technology Co. (NYSE:CRS - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $153.00.

CRS has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price target on the stock. Benchmark reaffirmed a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th.

Carpenter Technology Stock Performance

CRS stock traded down $2.90 during midday trading on Tuesday, hitting $172.56. The company's stock had a trading volume of 898,319 shares, compared to its average volume of 596,267. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 0.90 and a beta of 1.52. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average price is $173.49 and its 200 day moving average price is $144.82. Carpenter Technology has a 1 year low of $58.87 and a 1 year high of $198.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $717.60 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.88 EPS. On average, equities analysts forecast that Carpenter Technology will post 6.74 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology's payout ratio is 17.82%.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kimelman & Baird LLC purchased a new position in shares of Carpenter Technology during the 2nd quarter valued at $33,000. nVerses Capital LLC bought a new stake in Carpenter Technology during the third quarter valued at $64,000. Banque Cantonale Vaudoise purchased a new position in Carpenter Technology during the third quarter worth about $65,000. National Bank of Canada FI bought a new position in Carpenter Technology in the 2nd quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 178 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

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.