Carpenter Technology Co. (NYSE:CRS) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Carpenter Technology Co. (NYSE:CRS - Get Free Report) have received an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $155.50.

Several research firms recently weighed in on CRS. Benchmark reaffirmed a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Monday, January 27th.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded down $2.16 during trading hours on Wednesday, hitting $187.93. The company's stock had a trading volume of 454,264 shares, compared to its average volume of 711,263. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology has a 12-month low of $60.65 and a 12-month high of $213.65. The business has a 50 day moving average price of $187.40 and a two-hundred day moving average price of $166.40. The company has a market cap of $9.39 billion, a PE ratio of 35.46, a PEG ratio of 0.88 and a beta of 1.54.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Analysts expect that Carpenter Technology will post 6.83 earnings per share 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. Shareholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Carpenter Technology's payout ratio is currently 15.09%.

Institutional Trading of Carpenter Technology

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Carpenter Technology by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 26,930 shares of the basic materials company's stock valued at $2,951,000 after purchasing an additional 328 shares during the period. Creative Planning grew its stake in shares of Carpenter Technology by 73.9% during the second quarter. Creative Planning now owns 7,458 shares of the basic materials company's stock valued at $817,000 after buying an additional 3,170 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Carpenter Technology by 4.8% during the 2nd quarter. Cetera Investment Advisers now owns 11,119 shares of the basic materials company's stock valued at $1,218,000 after acquiring an additional 506 shares during the period. SG Americas Securities LLC increased its stake in Carpenter Technology by 115.7% in the third quarter. SG Americas Securities LLC now owns 3,701 shares of the basic materials company's stock worth $591,000 after purchasing an additional 1,985 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Carpenter Technology by 35.9% during the third quarter. Handelsbanken Fonder AB now owns 10,600 shares of the basic materials company's stock worth $1,692,000 after purchasing an additional 2,800 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other 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.