Carpenter Technology Corporation (NYSE:CRS) has been given an average recommendation of “Buy” by the eight brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $48.17.

Several research firms recently commented 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 objective for the company in a report on Tuesday, October 3rd. Cowen and Company raised their price objective on shares of Carpenter Technology Corporation from $37.00 to $53.00 in a report on Thursday, October 26th. KeyCorp reissued a “hold” rating on shares of Carpenter Technology Corporation in a report on Wednesday, October 11th. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Finally, Longbow Research raised their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th.

Carpenter Technology Corporation (NYSE:CRS) opened at $49.26 on Friday. The company has a market cap of $2,306.21, a P/E ratio of 29.67 and a beta of 2.09. Carpenter Technology Corporation has a fifty-two week low of $30.97 and a fifty-two week high of $51.88. The company has a quick ratio of 0.98, a current ratio of 2.91 and a debt-to-equity ratio of 0.45.

Carpenter Technology Corporation (NYSE:CRS) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million during the quarter, compared to the consensus estimate of $448.46 million. Carpenter Technology Corporation had a net margin of 4.06% and a return on equity of 6.67%. Carpenter Technology Corporation’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm earned ($0.08) EPS. analysts predict that Carpenter Technology Corporation will post 2.24 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s payout ratio is 44.44%.

In other news, Director I Martin Inglis sold 8,000 shares of Carpenter Technology Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $318,160.00. Following the completion of the sale, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $445,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 3,877 shares of Carpenter Technology Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now directly owns 230,418 shares of the company’s stock, valued at $9,258,195.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,522 shares of company stock valued at $1,065,580. Insiders own 4.51% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Morningstar Investment Services LLC lifted its holdings in shares of Carpenter Technology Corporation by 0.4% during the 2nd quarter. Morningstar Investment Services LLC now owns 8,041 shares of the basic materials company’s stock worth $301,000 after acquiring an additional 32 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Carpenter Technology Corporation by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 18,230 shares of the basic materials company’s stock worth $682,000 after acquiring an additional 75 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Carpenter Technology Corporation by 1.2% during the 2nd quarter. Amalgamated Bank now owns 6,581 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 78 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Carpenter Technology Corporation by 1.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 92 shares during the last quarter. Finally, Dubuque Bank & Trust Co. lifted its holdings in shares of Carpenter Technology Corporation by 3.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 107 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

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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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