Carpenter Technology (NYSE:CRS)‘s stock had its “hold” rating reaffirmed by Cowen in a research note issued on Sunday. They currently have a $53.00 price target on the basic materials company’s stock. Cowen’s target price suggests a potential upside of 2.79% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, October 3rd. KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $48.17.

Carpenter Technology (NYSE CRS) traded up $1.06 during trading hours on Friday, hitting $51.56. 350,173 shares of the company were exchanged, compared to its average volume of 272,595. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98. The company has a market cap of $2,413.88, a PE ratio of 31.06 and a beta of 2.07. Carpenter Technology has a 52 week low of $34.24 and a 52 week high of $52.00.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. Carpenter Technology’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. sell-side analysts anticipate that Carpenter Technology will post 2.24 EPS for the current year.

In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.51% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Morningstar Investment Services LLC increased its holdings in shares of Carpenter Technology by 0.4% in the second quarter. Morningstar Investment Services LLC now owns 8,041 shares of the basic materials company’s stock worth $301,000 after purchasing an additional 32 shares during the period. Granite Investment Partners LLC increased its holdings in shares of Carpenter Technology by 0.4% in the second quarter. Granite Investment Partners LLC now owns 18,230 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 75 shares during the period. Amalgamated Bank increased its holdings in shares of Carpenter Technology by 1.2% in the second quarter. Amalgamated Bank now owns 6,581 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 78 shares during the period. Federated Investors Inc. PA increased its holdings in shares of Carpenter Technology by 1.4% in the second quarter. Federated Investors Inc. PA now owns 13,259 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 187 shares during the period. Finally, Texas Permanent School Fund increased its holdings in shares of Carpenter Technology by 0.9% in the second quarter. Texas Permanent School Fund now owns 34,126 shares of the basic materials company’s stock worth $1,277,000 after purchasing an additional 299 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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About Carpenter Technology

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 (NYSE:CRS)

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