JPMorgan Chase & Co. Begins Coverage on Carpenter Technology (NYSE:CRS)

JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology (NYSE:CRS - Free Report) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $220.00 price objective on the basic materials company's stock.

A number of other research analysts also recently weighed in on CRS. Benchmark reiterated a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. BTIG Research boosted their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and an average target price of $153.00.

Carpenter Technology Stock Up 5.2 %

Shares of CRS traded up $9.33 during trading on Friday, reaching $190.04. The company's stock had a trading volume of 657,494 shares, compared to its average volume of 590,799. 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 company has a market cap of $9.47 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 0.94 and a beta of 1.46. Carpenter Technology has a twelve month low of $58.87 and a twelve month high of $192.34. The company has a fifty day moving average of $161.90 and a two-hundred day moving average of $134.76.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million for 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%. Carpenter Technology's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. On average, sell-side analysts predict that Carpenter Technology will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Carpenter Technology's dividend payout ratio is currently 17.82%.

Institutional Investors Weigh In On Carpenter Technology

Large investors have recently bought and sold shares of the business. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $33,000. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at about $64,000. Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology in the third quarter valued at about $65,000. National Bank of Canada FI acquired a new stake in shares of Carpenter Technology in the second quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Carpenter Technology by 58.0% in the second 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 during 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.