Carpenter Technology Co. (NYSE:CRS) Receives $167.17 Average Price Target from Brokerages

Shares of Carpenter Technology Co. (NYSE:CRS) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $167.17.

CRS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st.

Carpenter Technology Price Performance

NYSE:CRS opened at $186.36 on Friday. The firm’s fifty day moving average is $193.73 and its two-hundred day moving average is $173.80. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 0.93 and a beta of 1.54. Carpenter Technology has a one year low of $63.58 and a one year high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Research analysts expect that Carpenter Technology will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

Institutional Trading of Carpenter Technology

Institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carpenter Technology during the fourth quarter worth $8,558,000. Virtue Capital Management LLC increased its stake in Carpenter Technology by 6.0% during the 4th quarter. Virtue Capital Management LLC now owns 5,717 shares of the basic materials company’s stock worth $970,000 after buying an additional 326 shares during the period. Ameriflex Group Inc. acquired a new position in Carpenter Technology in the 4th quarter worth $44,000. Public Employees Retirement System of Ohio boosted its position in Carpenter Technology by 177.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,540 shares of the basic materials company’s stock valued at $261,000 after buying an additional 985 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Carpenter Technology by 18.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,084 shares of the basic materials company’s stock valued at $17,494,000 after buying an additional 15,853 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.