Zacks Research Analysts Increase Earnings Estimates for CRS

Key Points

• Zacks Research slightly raised its Q1 2027 EPS estimate for Carpenter Technology to $2.83 from $2.82 and kept a Strong-Buy rating on the stock.
• Other analysts remain broadly bullish, with recent price-target hikes from JPMorgan and KeyCorp helping push the consensus target price to $556.75 and the average rating to Buy.
• Carpenter Technology most recently beat earnings expectations with $2.77 EPS on revenue of $655.6 million, while the stock was trading around $556.52 and near its 52-week high.

Carpenter Technology Corporation (NYSE:CRS - Free Report) - Analysts at Zacks Research raised their Q1 2027 earnings per share (EPS) estimates for Carpenter Technology in a research report issued to clients and investors on Friday, July 17th. Zacks Research analyst Team now forecasts that the basic materials company will post earnings per share of $2.83 for the quarter, up from their previous forecast of $2.82. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Carpenter Technology's current full-year earnings is $10.58 per share. Zacks Research also issued estimates for Carpenter Technology's Q2 2027 earnings at $2.85 EPS, Q4 2027 earnings at $3.25 EPS, FY2027 earnings at $12.12 EPS, Q1 2028 earnings at $3.24 EPS, Q2 2028 earnings at $3.36 EPS, Q4 2028 earnings at $4.00 EPS and FY2028 earnings at $14.49 EPS.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $470.00 to $705.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. KeyCorp increased their price objective on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. Wells Fargo & Company boosted their target price on shares of 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, 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $556.75.

Carpenter Technology Price Performance

CRS stock opened at $556.52 on Monday. 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 has a 1 year low of $228.00 and a 1 year high of $625.98. The firm has a market cap of $27.65 billion, a P/E ratio of 58.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. The stock has a 50-day simple moving average of $525.05 and a 200-day simple moving average of $431.15.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million for the quarter, compared to analysts' expectations of $797.00 million. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis.

Insider Transactions at Carpenter Technology

In related news, Director Anastasios John Hart sold 750 shares of the 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 completion of the transaction, the director owned 750 shares of the company's stock, valued at approximately $317,895. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction dated 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 directly owned 18,344 shares of the company's stock, valued at $8,096,307.84. This represents a 39.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology during the 2nd quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Carpenter Technology in the first quarter worth $30,000. SJS Investment Consulting Inc. increased its stake in shares of Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company's stock worth $32,000 after buying an additional 36 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in shares of Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock worth $37,000 after buying an additional 43 shares during the last quarter. Finally, Spire Wealth Management raised its holdings 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 acquiring an additional 84 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

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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