Carpenter Technology Co. (NYSE:CRS) Given Average Recommendation of “Moderate Buy” by Brokerages

Carpenter Technology Co. (NYSE:CRS) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $153.00.

CRS has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price target for the company.

Institutional Trading of Carpenter Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC boosted its stake in shares of Carpenter Technology by 0.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after purchasing an additional 100 shares during the last quarter. KBC Group NV lifted its holdings in Carpenter Technology by 13.5% in the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after buying an additional 161 shares during the period. Arete Wealth Advisors LLC boosted its stake in Carpenter Technology by 7.5% in the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after acquiring an additional 169 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of Carpenter Technology by 8.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 180 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

Shares of CRS stock opened at $169.97 on Tuesday. The stock’s fifty day simple moving average is $174.07 and its 200 day simple moving average is $145.98. Carpenter Technology has a one year low of $58.87 and a one year high of $198.24. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 37.86, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, analysts expect that Carpenter Technology will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.