Analysts Set Carpenter Technology Co. (NYSE:CRS) Target Price at $153.00

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

Several research analysts have recently weighed in on CRS shares. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock.

Institutional Trading of Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRS. Strengthening Families & Communities LLC grew its holdings in Carpenter Technology by 0.6% during 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 buying an additional 100 shares in the last quarter. Wesbanco Bank Inc. boosted its position in shares of Carpenter Technology by 1.2% during the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 115 shares during the last quarter. Burney Co. grew its stake in Carpenter Technology by 6.2% during the fourth quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock valued at $347,000 after acquiring an additional 120 shares in the last quarter. KBC Group NV increased its holdings in Carpenter Technology by 13.5% in the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 161 shares during the last quarter. Finally, Arete Wealth Advisors LLC lifted its stake in Carpenter Technology by 7.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock worth $384,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 3.0 %

CRS stock opened at $206.85 on Friday. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 0.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The business’s 50-day moving average is $182.74 and its two-hundred day moving average is $156.93. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $207.99.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, analysts forecast that Carpenter Technology will post 6.77 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. Carpenter Technology’s payout ratio is 17.82%.

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.