Carpenter Technology (NYSE:CRS - Get Free Report)'s stock had its "buy (b+)" rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.
Several other equities research analysts have also commented on the stock. Zacks Research lowered shares of Carpenter Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 1st. Cowen restated a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. BTIG Research reiterated a "buy" rating on shares of Carpenter Technology in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $278.33.
Check Out Our Latest Stock Analysis on CRS
Carpenter Technology Stock Up 1.6%
Shares of NYSE:CRS traded up $3.99 during trading on Wednesday, hitting $260.26. The stock had a trading volume of 739,234 shares, compared to its average volume of 967,587. Carpenter Technology has a 12 month low of $138.61 and a 12 month high of $290.84. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $12.97 billion, a PE ratio of 35.08, a PEG ratio of 1.16 and a beta of 1.46. The firm's fifty day moving average is $245.68 and its 200 day moving average is $234.60.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.18. The firm had revenue of $755.60 million for the quarter, compared to the consensus estimate of $790.73 million. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The company's revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. Analysts anticipate that Carpenter Technology will post 6.83 EPS for the current fiscal year.
Insider Transactions at Carpenter Technology
In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the transaction, the director directly owned 180,000 shares of the company's stock, valued at $44,240,400. The trade was a 1.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director I Martin Inglis sold 5,691 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the sale, the director owned 6,732 shares in the company, valued at $1,646,243.28. This trade represents a 45.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,124 shares of company stock valued at $6,890,250. Insiders own 2.90% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRS. Geneos Wealth Management Inc. acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $28,000. Headlands Technologies LLC bought a new position in shares of Carpenter Technology in the 2nd quarter valued at about $43,000. Rakuten Securities Inc. acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $45,000. Rise Advisors LLC acquired a new stake in shares of Carpenter Technology in the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in shares of Carpenter Technology in the first quarter valued at $36,000. 92.03% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Company Profile
(
Get Free Report)
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.
Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Carpenter Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Carpenter Technology wasn't on the list.
While Carpenter Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.