Northcoast Research Reiterates Neutral Rating for Carpenter Technology (NYSE:CRS)

Carpenter Technology (NYSE:CRS)‘s stock had its “neutral” rating reissued by investment analysts at Northcoast Research in a note issued to investors on Monday, StockNewsAPI reports.

Separately, TD Cowen increased their price target on Carpenter Technology from $90.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Carpenter Technology Stock Up 0.3 %

NYSE CRS opened at $104.00 on Monday. The stock’s 50 day moving average is $74.07 and its 200 day moving average is $69.10. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. Carpenter Technology has a 12 month low of $44.40 and a 12 month high of $104.85. The stock has a market cap of $5.16 billion, a PE ratio of 39.54 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.25. The company had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. Carpenter Technology’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Research analysts predict that Carpenter Technology will post 3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Carpenter Technology

Several hedge funds have recently bought and sold shares of CRS. Texas Permanent School Fund Corp increased its holdings in shares of Carpenter Technology by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 43,245 shares of the basic materials company’s stock valued at $3,089,000 after acquiring an additional 652 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Carpenter Technology in the 1st quarter valued at about $30,000. Wakefield Asset Management LLLP purchased a new position in shares of Carpenter Technology in the 1st quarter valued at about $1,016,000. Janney Montgomery Scott LLC increased its holdings in shares of Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock valued at $1,835,000 after acquiring an additional 281 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Carpenter Technology by 68.7% in the 1st quarter. BNP Paribas Financial Markets now owns 25,730 shares of the basic materials company’s stock valued at $1,838,000 after acquiring an additional 10,477 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Carpenter Technology

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.