Carpenter Technology (NYSE:CRS) Sets New 12-Month High - Still a Buy?

Key Points

• Carpenter Technology hit a new 52-week high, trading as high as $500.16 as investor momentum stayed strong. The stock has also climbed well above its 50-day and 200-day moving averages.
• Analysts turned increasingly bullish on earnings, with Zacks raising FY2026–FY2028 EPS estimates and several firms lifting price targets. The stock now carries a consensus Moderate Buy rating with an average target of $441.
• Recent earnings were solid, as Carpenter Technology beat EPS expectations in its latest quarter and posted year-over-year revenue growth of 11.6%. The company also continues to return cash via a small dividend, while insiders have sold shares recently.

Carpenter Technology Corporation (NYSE:CRS - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $500.16 and last traded at $495.1050, with a volume of 173698 shares trading hands. The stock had previously closed at $492.62.

Key Headlines Impacting Carpenter Technology

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

• Positive Sentiment: Zacks Research raised near- and longer-term EPS forecasts for Carpenter Technology, including FY2026 to $10.44, FY2027 to $12.01, and FY2028 to $14.37, signaling continued confidence in earnings growth.
• Positive Sentiment: The analyst also nudged up quarterly estimates for Q1 2027, Q2 2027, Q3 2027, Q4 2027, and Q3 2028, reinforcing the view that profitability could remain strong over the next several years.
• Neutral Sentiment: A Zacks note highlighted Carpenter Technology as a potential momentum stock, which may attract trader attention but does not by itself change fundamentals. Article: Carpenter Technology (CRS) Is Up 8.03% in One Week: What You Should Know

Analysts Set New Price Targets

CRS has been the subject of a number of recent analyst reports. KeyCorp upped their price objective on shares of Carpenter Technology from $453.00 to $459.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. BTIG Research upped their price objective on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. TD Cowen raised their target price on shares of Carpenter Technology from $450.00 to $470.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Wells Fargo & Company raised their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $441.00.

Carpenter Technology Stock Down 1.8%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The stock has a market capitalization of $24.04 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 1.80 and a beta of 1.25. The firm's fifty day simple moving average is $430.00 and its 200 day simple moving average is $375.62.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The firm had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. On average, sell-side analysts forecast that Carpenter Technology Corporation will post 10.55 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology's dividend payout ratio (DPR) is currently 8.42%.

Insider Activity at Carpenter Technology

In related news, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction dated 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. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the transaction, the vice president owned 18,344 shares of the company's stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

Several large investors have recently made changes to their positions in the stock. Woodline Partners LP bought a new position in shares of Carpenter Technology in the first quarter valued at $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company's stock valued at $18,985,000 after buying an additional 1,701 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Carpenter Technology by 7.3% in the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company's stock valued at $836,000 after buying an additional 314 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Carpenter Technology in the second quarter valued at $80,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Carpenter Technology in the second quarter valued at $533,000. Institutional investors and hedge funds own 92.03% of the company's stock.

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

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