Carpenter Technology (NYSE:CRS) Price Target Cut to $700.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Carpenter Technology’s price target to $700 from $705 but maintained an “overweight” rating, implying roughly 35% upside from the prior close.
• Analyst sentiment remains positive overall: the stock carries a consensus “Buy” rating and a $567.38 average price target, with other firms recently raising targets or upgrading the shares.
• Carpenter Technology’s latest earnings exceeded expectations at $3.23 per share versus $3.09, while revenue rose 12.6% year over year to $679.7 million but fell well short of the $863.3 million consensus estimate.

Carpenter Technology (NYSE:CRS - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $705.00 to $700.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 34.96% from the stock's previous close.

A number of other research firms have also recently issued reports on CRS. Zacks Research upgraded Carpenter Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Weiss Ratings cut shares of Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. TD Cowen lifted their price target on Carpenter Technology from $470.00 to $650.00 and gave the company a "buy" rating in a report on Monday, July 13th. Wells Fargo & Company upped their price target on Carpenter Technology from $400.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $567.38.

Carpenter Technology Stock Up 3.0%

Shares of CRS traded up $14.97 on Friday, hitting $518.68. 422,641 shares of the stock traded hands, compared to its average volume of 778,337. Carpenter Technology has a one year low of $228.00 and a one year high of $625.98. The company has a market capitalization of $25.77 billion, a PE ratio of 54.65, a P/E/G ratio of 1.49 and a beta of 1.22. The business has a 50 day simple moving average of $551.23 and a 200 day simple moving average of $446.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $3.09 by $0.14. The business had revenue of $679.70 million during the quarter, compared to analysts' expectations of $863.33 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 earnings per share. As a group, equities analysts forecast that Carpenter Technology will post 10.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares in the company, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the sale, the director owned 750 shares of the company's stock, valued at approximately $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Institutional Trading of Carpenter Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Carpenter Technology during the 1st quarter worth approximately $30,000. SJS Investment Consulting Inc. increased its holdings in Carpenter Technology by 81.8% in the 1st 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. Spire Wealth Management raised its position in Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 84 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Carpenter Technology during the second quarter worth $43,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Trending Headlines about Carpenter Technology

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

• Positive Sentiment: Carpenter Technology reported fiscal fourth-quarter earnings of $3.23 per share, above the $3.09 consensus estimate and up from $2.21 a year earlier. The company also reported 12.6% year-over-year revenue growth, supporting investor confidence in profitability and operating execution. Carpenter Technology Q4 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management entered fiscal 2027 with record profitability, rising aerospace demand and an ambitious target of $1.2 billion to $1.3 billion in operating income by fiscal 2029. The growth outlook and aerospace exposure are key catalysts for the stock’s advance. CRS Q4 Earnings Call Highlights Strong Growth Outlook
• Positive Sentiment: BTIG Research raised its price target from $450 to $620 and upgraded its rating to “buy,” implying substantial potential upside based on the company’s earnings momentum and long-term growth prospects. BTIG Research price-target update
• Positive Sentiment: Susquehanna maintained a “positive” rating despite lowering its price target from $680 to $600, indicating analysts still see upside after the stock’s significant appreciation. Susquehanna price-target update
• Negative Sentiment: Quarterly revenue of $679.7 million fell well short of the $863.3 million consensus estimate. Although revenue grew year over year, the large miss may raise questions about demand timing, product mix or the pace of future growth.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

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