Carpenter Technology Co. (NYSE:CRS - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $199.00 and last traded at $198.39, with a volume of 43283 shares trading hands. The stock had previously closed at $193.10.
Wall Street Analyst Weigh In
A number of research firms have issued reports on CRS. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price objective on the stock. Benchmark reiterated a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Carpenter Technology has a consensus rating of "Moderate Buy" and an average target price of $153.00.
Get Our Latest Report on CRS
Carpenter Technology Stock Up 1.4 %
The company has a market capitalization of $9.76 billion, a P/E ratio of 43.59, 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. The company has a 50-day moving average of $180.52 and a two-hundred day moving average of $155.01.
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, topping analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million for the quarter, compared to analysts' expectations of $742.96 million. During the same quarter in the previous year, the business posted $0.88 EPS. Carpenter Technology's revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after acquiring an additional 1,108,963 shares during the period. Geode Capital Management LLC grew its stake in shares of Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after acquiring an additional 17,497 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock worth $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at $73,850,000. Finally, Avala Global LP lifted its position in shares of Carpenter Technology by 21.0% in the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company's stock valued at $67,614,000 after acquiring an additional 73,400 shares in the last quarter. 92.03% of the stock is owned by institutional investors.
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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