Carpenter Technology (NYSE:CRS - Get Free Report) had its price target raised by analysts at JPMorgan Chase & Co. from $235.00 to $240.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 22.94% from the stock's current price.
Separately, 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. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and an average target price of $156.33.
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Carpenter Technology Price Performance
CRS traded down $12.80 on Wednesday, hitting $195.21. 1,204,543 shares of the company's stock were exchanged, compared to its average volume of 779,681. Carpenter Technology has a fifty-two week low of $62.99 and a fifty-two week high of $213.65. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $188.87 and a 200-day moving average price of $170.14. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 0.98 and a beta of 1.54.
Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, equities analysts anticipate that Carpenter Technology will post 6.83 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in Carpenter Technology by 177.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,540 shares of the basic materials company's stock valued at $261,000 after buying an additional 985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Carpenter Technology by 18.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,084 shares of the basic materials company's stock valued at $17,494,000 after buying an additional 15,853 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Carpenter Technology in the fourth quarter valued at about $20,101,000. Two Sigma Advisers LP lifted its position in Carpenter Technology by 5.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,800 shares of the basic materials company's stock valued at $305,000 after buying an additional 100 shares during the last quarter. Finally, Tyro Capital Management LLC lifted its position in Carpenter Technology by 20.1% in the fourth quarter. Tyro Capital Management LLC now owns 178,693 shares of the basic materials company's stock valued at $30,326,000 after buying an additional 29,944 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.
About Carpenter Technology
(
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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.
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