Carpenter Technology Co. (NYSE:CRS) Receives Average Rating of "Moderate Buy" from Analysts

Carpenter Technology Co. (NYSE:CRS - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $153.00.

Several analysts recently weighed in on the company. JPMorgan Chase & Co. began coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price objective for the company. Benchmark restated a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th.

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of CRS. Kimelman & Baird LLC acquired a new stake in Carpenter Technology during the 2nd quarter valued at approximately $33,000. National Bank of Canada FI purchased a new position in shares of Carpenter Technology during the 2nd quarter valued at approximately $49,000. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 178 shares during the period. nVerses Capital LLC purchased a new stake in Carpenter Technology during the third quarter worth $64,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Carpenter Technology during the third quarter valued at $65,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Up 1.2 %

CRS traded up $2.27 on Friday, reaching $186.12. 661,509 shares of the company traded hands, compared to its average volume of 630,468. The company has a market cap of $9.28 billion, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology has a one year low of $58.87 and a one year high of $198.24. The firm has a fifty day simple moving average of $179.74 and a two-hundred day simple moving average of $154.07.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly 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 during 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%. Carpenter Technology's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, equities research analysts expect that Carpenter Technology will post 6.74 earnings per share for the current year.

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.