Carpenter Technology’s (CRS) “Neutral” Rating Reaffirmed at Northcoast Research

Carpenter Technology (NYSE:CRS)‘s stock had its “neutral” rating reissued by equities research analysts at Northcoast Research in a note issued to investors on Monday, MarketBeat.com reports.

Separately, TD Cowen raised their target price on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $102.62 on Monday. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 39.02 and a beta of 1.47. Carpenter Technology has a twelve month low of $44.40 and a twelve month high of $104.85. The business has a 50 day simple moving average of $75.58 and a 200-day simple moving average of $69.67.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. The firm had revenue of $684.90 million during the quarter, compared to the consensus estimate of $707.73 million. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts expect that Carpenter Technology will post 3.97 earnings per share for the current year.

Insider Buying and Selling

In other Carpenter Technology news, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares in the company, valued at approximately $24,551,751.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Carpenter Technology news, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the sale, the director now owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the completion of the transaction, the vice president now directly owns 11,509 shares of the company’s stock, valued at approximately $1,175,183.99. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American International Group Inc. lifted its stake in shares of Carpenter Technology by 0.7% in the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock worth $1,887,000 after acquiring an additional 188 shares during the period. Arizona State Retirement System raised its holdings in Carpenter Technology by 1.5% during the third quarter. Arizona State Retirement System now owns 13,823 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 198 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Carpenter Technology by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after purchasing an additional 215 shares during the period. Range Financial Group LLC boosted its stake in Carpenter Technology by 2.5% during the 4th quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock valued at $760,000 after purchasing an additional 259 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Carpenter Technology by 1.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock valued at $1,835,000 after purchasing an additional 281 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Company Profile

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.