Carpenter Technology (NYSE:CRS) Stock Rating Upgraded by Northcoast Research

Carpenter Technology (NYSE:CRS) was upgraded by equities research analysts at Northcoast Research from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat.com reports.

Several other brokerages have also issued reports on CRS. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Performance

Shares of CRS opened at $167.52 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology has a one year low of $74.21 and a one year high of $213.66. The company’s fifty day moving average price is $185.92 and its 200 day moving average price is $180.28. The company has a market capitalization of $8.37 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, analysts expect that Carpenter Technology will post 6.83 earnings per share for the current year.

Institutional Investors Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently made changes to their positions in CRS. Kestra Investment Management LLC acquired a new position in Carpenter Technology in the fourth quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in shares of Carpenter Technology in the fourth quarter valued at approximately $44,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Carpenter Technology by 109.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 127 shares in the last quarter. UMB Bank n.a. grew its position in Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 191 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Carpenter Technology by 27.3% during the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.