Carpenter Technology (NYSE:CRS) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Carpenter Technology to “Hold” from “Buy,” while other analysts also reduced price targets. Despite the cuts, the broader analyst consensus remains “Moderate Buy,” with eight Buy ratings and two Holds and an average target of $526.88.
• Carpenter Technology shares opened at $386.55, well below their 52-week high of $625.98. The company recently exceeded quarterly EPS expectations, reporting $3.23 versus the $3.09 consensus, although revenue came in below estimates.
• Insiders sold approximately $54.6 million of stock over the last quarter, while institutional investors own 92.03% of the company. The stock has a market capitalization of $19.16 billion and a P/E ratio of 36.74.

Carpenter Technology (NYSE:CRS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also commented on the company. TD Cowen lowered their price target on Carpenter Technology from $650.00 to $500.00 and set a "buy" rating for the company in a research report on Friday. KeyCorp cut their price objective on shares of Carpenter Technology from $608.00 to $465.00 and set an "overweight" rating on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on shares of Carpenter Technology from $540.00 to $430.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 30th. Susquehanna lowered their target price on shares of Carpenter Technology from $680.00 to $600.00 and set a "positive" rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Carpenter Technology in a research report on Monday, August 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $526.88.

Carpenter Technology Stock Performance

Shares of CRS opened at $386.55 on Friday. The firm has a market capitalization of $19.16 billion, a P/E ratio of 36.74, a P/E/G ratio of 1.37 and a beta of 1.29. Carpenter Technology has a 52 week low of $233.77 and a 52 week high of $625.98. The stock has a 50 day moving average price of $461.66 and a two-hundred day moving average price of $480.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.09 by $0.14. The company had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%. The company's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. Equities analysts forecast that Carpenter Technology will post 13.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the completion of the transaction, the director owned 1,953 shares in the company, valued at $963,121.95. This represents a 18.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Karol sold 3,275 shares of the firm's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $474.08, for a total value of $1,552,612.00. Following the sale, the director directly owned 177,000 shares of the company's stock, valued at approximately $83,912,160. This represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 112,996 shares of company stock valued at $54,644,436. Insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Carpenter Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC grew its position in Carpenter Technology by 1.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company's stock worth $708,000 after acquiring an additional 19 shares during the last quarter. Essential Partners LLC lifted its position in Carpenter Technology by 9.9% in the first quarter. Essential Partners LLC now owns 378 shares of the basic materials company's stock valued at $149,000 after purchasing an additional 34 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 36 shares during the last quarter. TrueWealth Advisors LLC boosted its stake in shares of Carpenter Technology by 1.3% during the second quarter. TrueWealth Advisors LLC now owns 2,789 shares of the basic materials company's stock valued at $1,720,000 after purchasing an additional 36 shares during the period. Finally, Severin Investments LLC boosted its stake in shares of Carpenter Technology by 1.8% during the first quarter. Severin Investments LLC now owns 2,190 shares of the basic materials company's stock valued at $863,000 after purchasing an additional 39 shares during the period. Institutional investors own 92.03% of the company's stock.

Key Stories Impacting Carpenter Technology

Here are the key news stories impacting Carpenter Technology this week:

• Positive Sentiment: Zacks upgraded CRS to a Buy: The upgrade reflects growing optimism about Carpenter Technology’s earnings prospects and could support the stock if improving fundamentals materialize. What Makes Carpenter CRS a New Buy Stock
• Positive Sentiment: TD Cowen maintained a Buy rating: Although it lowered its price target from $650 to $500, the revised target still implies substantial upside from the recently cited share price, signaling continued confidence in CRS’s long-term prospects. TD Cowen price target update
• Neutral Sentiment: Quarterly dividend maintained: Carpenter Technology declared a $0.20-per-share dividend payable December 3, 2026, to shareholders of record October 20. The annualized payout is $0.80 per share, but the approximately 0.2% yield is unlikely to be a major stock catalyst. Carpenter Technology Declares Quarterly Cash Dividend
• Negative Sentiment: Additional analyst target cut: KeyBanc lowered its price target for CRS to $465, reinforcing concerns about near-term valuation or industry conditions despite the stock’s longer-term support from Buy ratings. KeyBanc cuts target for Carpenter Technology

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of specialty metals and engineered products for applications that require high performance, durability, and resistance to extreme conditions. Founded in 1889, the company produces stainless steels, nickel- and cobalt-based alloys, titanium alloys, and other specialty materials.

Its product offerings include specialty wire, rod, bar, strip, billet, and powder, as well as precision-engineered components and additive-manufacturing materials.

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