Carpenter Technology (NYSE:CRS) Coverage Initiated at Susquehanna

Stock analysts at Susquehanna began coverage on shares of Carpenter Technology (NYSE:CRS) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set a “positive” rating and a $470.00 price target on the basic materials company’s stock. Susquehanna’s price target indicates a potential upside of 14.11% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective on the stock in a research note on Thursday, November 13th. Finally, BTIG Research upped their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $385.50.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $411.90 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. Carpenter Technology has a 52-week low of $138.61 and a 52-week high of $412.31. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 47.84, a PEG ratio of 1.57 and a beta of 1.22. The stock’s fifty day simple moving average is $351.01 and its 200 day simple moving average is $304.64.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 EPS. As a group, sell-side analysts forecast that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, COO Brian J. Malloy sold 43,688 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the sale, the chief operating officer directly owned 78,875 shares of the company’s stock, valued at approximately $24,013,493.75. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James D. Dee sold 15,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the transaction, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,758 shares of company stock worth $31,665,177 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Meeder Advisory Services Inc. boosted its holdings in Carpenter Technology by 3.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 32 shares during the last quarter. Abel Hall LLC increased its position in shares of Carpenter Technology by 3.2% in the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after buying an additional 32 shares in the last quarter. Brown Miller Wealth Management LLC increased its holdings in shares of Carpenter Technology by 2.4% in the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock worth $444,000 after acquiring an additional 33 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Carpenter Technology by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after purchasing an additional 34 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of Carpenter Technology by 17.9% during the third quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 36 shares during the period. 92.03% of the stock is currently owned by institutional investors.

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.