Analysts Set Carpenter Technology Co. (NYSE:CRS) Price Target at $139.60

Carpenter Technology Co. (NYSE:CRS) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $139.60.

A number of research firms recently weighed in on CRS. TD Cowen raised their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Benchmark raised their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price for the company. BTIG Research raised their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Northcoast Research reissued a “sell” rating and issued a $89.00 target price on shares of Carpenter Technology in a report on Friday, June 14th.

Institutional Trading of Carpenter Technology

Institutional investors have recently made changes to their positions in the company. Wolf Hill Capital Management LP purchased a new stake in Carpenter Technology during the second quarter valued at about $73,850,000. Bayberry Capital Partners LP purchased a new position in shares of Carpenter Technology in the 1st quarter worth about $35,887,000. American Century Companies Inc. raised its position in shares of Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after purchasing an additional 479,047 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in Carpenter Technology by 199.1% in the 4th quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock worth $48,741,000 after buying an additional 458,227 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Carpenter Technology by 82.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock worth $68,833,000 after buying an additional 438,781 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

NYSE:CRS opened at $142.41 on Monday. Carpenter Technology has a 12 month low of $58.87 and a 12 month high of $148.94. The company’s 50-day moving average price is $133.83 and its two-hundred day moving average price is $105.37. The firm has a market cap of $7.11 billion, a PE ratio of 54.15, a price-to-earnings-growth ratio of 0.77 and a beta of 1.45. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same period in the prior year, the business posted $0.78 earnings per share. Carpenter Technology’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Carpenter Technology will post 6.06 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. Carpenter Technology’s payout ratio is 30.42%.

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.