Carpenter Technology (NYSE:CRS) Rating Lowered to Sell at StockNews.com

Carpenter Technology (NYSE:CRSGet Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other equities research analysts have also weighed in on the stock. Cowen raised shares of Carpenter Technology from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Monday, September 12th. Cowen raised shares of Carpenter Technology from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Monday, September 12th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.75.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $41.23 on Tuesday. The company’s fifty day simple moving average is $36.43 and its 200-day simple moving average is $33.90. The company has a market cap of $2.00 billion, a PE ratio of -47.94 and a beta of 1.69. Carpenter Technology has a 52 week low of $24.76 and a 52 week high of $44.96. The company has a current ratio of 2.80, a quick ratio of 1.30 and a debt-to-equity ratio of 0.53.

Carpenter Technology (NYSE:CRSGet Rating) last released its quarterly earnings results on Thursday, October 27th. The basic materials company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $522.90 million for the quarter, compared to the consensus estimate of $558.00 million. Carpenter Technology had a negative net margin of 2.09% and a negative return on equity of 3.35%. As a group, equities research analysts anticipate that Carpenter Technology will post 1.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC purchased a new stake in Carpenter Technology during the 3rd quarter valued at approximately $9,766,000. BNP Paribas Arbitrage SNC increased its stake in shares of Carpenter Technology by 47.2% during the third quarter. BNP Paribas Arbitrage SNC now owns 25,478 shares of the basic materials company’s stock valued at $793,000 after buying an additional 8,166 shares during the period. Summit Global Investments grew its stake in Carpenter Technology by 67.1% in the third quarter. Summit Global Investments now owns 14,200 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 5,700 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Carpenter Technology by 6.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,557,766 shares of the basic materials company’s stock worth $48,509,000 after acquiring an additional 90,007 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Carpenter Technology by 497.2% during the third quarter. Two Sigma Investments LP now owns 73,991 shares of the basic materials company’s stock worth $2,304,000 after purchasing an additional 61,602 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Carpenter Technology Company Profile

(Get Rating)

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.

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