Shares of Carpenter Technology Corporation (NYSE:CRS) have received a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $45.50.

Several brokerages have recently weighed in on CRS. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Tuesday, October 3rd. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Longbow Research boosted their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Cowen and Company reiterated a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology Corporation in a research note on Monday, July 17th.

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In other Carpenter Technology Corporation news, Director Steven E. Karol sold 2,645 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the transaction, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Karol sold 3,877 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $40.18, for a total transaction of $155,777.86. Following the transaction, the director now owns 230,418 shares in the company, valued at approximately $9,258,195.24. The disclosure for this sale can be found here. Insiders have sold a total of 26,522 shares of company stock worth $1,065,580 in the last 90 days. 4.51% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. acquired a new position in Carpenter Technology Corporation during the 2nd quarter valued at approximately $802,000. FMR LLC boosted its holdings in shares of Carpenter Technology Corporation by 0.5% in the 1st quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock valued at $176,019,000 after acquiring an additional 21,800 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Carpenter Technology Corporation by 15.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 29,093 shares of the basic materials company’s stock valued at $1,085,000 after acquiring an additional 3,891 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Carpenter Technology Corporation by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 573,376 shares of the basic materials company’s stock valued at $21,461,000 after acquiring an additional 66,712 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Carpenter Technology Corporation by 9.9% in the 1st quarter. Bank of America Corp DE now owns 193,060 shares of the basic materials company’s stock valued at $7,201,000 after acquiring an additional 17,463 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

Carpenter Technology Corporation (NYSE CRS) opened at 49.52 on Wednesday. Carpenter Technology Corporation has a 52 week low of $30.37 and a 52 week high of $50.84. The company has a market cap of $2.32 billion, a P/E ratio of 50.02 and a beta of 2.09. The firm’s 50 day moving average is $43.60 and its 200-day moving average is $39.07.

Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The firm had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. During the same quarter in the prior year, the company earned $0.35 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Carpenter Technology Corporation will post $2.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.

Carpenter Technology Corporation Company Profile

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

Analyst Recommendations for Carpenter Technology Corporation (NYSE:CRS)

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