Carpenter Technology Co. (NYSE:CRS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Carpenter Technology Co. (NYSE:CRS) have been given an average rating of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat Ratings reports. One 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 brokers that have issued a report on the stock in the last year is $139.60.

CRS has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research report on Friday. They issued an “overweight” rating and a $220.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. Finally, BTIG Research increased their target price 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.

Carpenter Technology Stock Up 0.2 %

Shares of NYSE:CRS opened at $180.98 on Friday. The firm has a 50 day simple moving average of $161.90 and a 200-day simple moving average of $134.76. Carpenter Technology has a twelve month low of $58.87 and a twelve month high of $187.03. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $9.02 billion, a PE ratio of 40.31, a P/E/G ratio of 0.94 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm 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 firm posted $0.88 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Carpenter Technology will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared 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 is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology’s payout ratio is 17.82%.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its position in Carpenter Technology by 0.6% in the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after buying an additional 100 shares during the last quarter. CWM LLC boosted its position in shares of Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 103 shares during the period. GAMMA Investing LLC increased its stake in Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 136 shares in the last quarter. KBC Group NV raised its holdings in Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock worth $216,000 after buying an additional 161 shares during the period. Finally, Arete Wealth Advisors LLC raised its position in Carpenter Technology by 7.5% during the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after buying an additional 169 shares during the period. Institutional investors 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.