Carpenter Technology (NYSE:CRS) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Carpenter Technology (NYSE:CRS) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports. Zacks Research also issued estimates for Carpenter Technology’s Q1 2026 earnings at $2.09 EPS, Q3 2026 earnings at $2.45 EPS, Q4 2026 earnings at $2.79 EPS, FY2026 earnings at $9.45 EPS, Q2 2027 earnings at $2.60 EPS, Q3 2027 earnings at $3.04 EPS, FY2027 earnings at $11.56 EPS and FY2028 earnings at $13.82 EPS.

A number of other analysts have also issued reports on CRS. Benchmark lifted their price target on shares of Carpenter Technology from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. BTIG Research reissued a “buy” rating on shares of Carpenter Technology in a report on Monday, August 4th. Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $278.33.

Carpenter Technology Stock Up 0.0%

Shares of NYSE CRS opened at $246.95 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. Carpenter Technology has a 1 year low of $138.61 and a 1 year high of $290.84. The stock’s 50-day simple moving average is $247.03 and its 200-day simple moving average is $233.17. The firm has a market cap of $12.31 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.12 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The firm had revenue of $755.60 million during the quarter, compared to the consensus estimate of $790.73 million. During the same quarter in the prior year, the business posted $1.82 earnings per share. Carpenter Technology’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Tuesday, August 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, August 26th. Carpenter Technology’s payout ratio is presently 10.78%.

Insider Activity

In other news, Director Steven E. Karol sold 3,433 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the sale, the director directly owned 180,000 shares in the company, valued at approximately $44,240,400. This represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony R. Thene sold 19,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the completion of the sale, the chief executive officer directly owned 535,019 shares in the company, valued at approximately $131,074,304.81. This trade represents a 3.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,124 shares of company stock valued at $6,890,250. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carpenter Technology

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in Carpenter Technology in the 2nd quarter valued at about $28,000. Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology in the second quarter valued at approximately $43,000. Rakuten Securities Inc. acquired a new stake in shares of Carpenter Technology in the second quarter valued at approximately $45,000. Rise Advisors LLC bought a new stake in shares of Carpenter Technology during the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of Carpenter Technology during the first quarter worth approximately $36,000. 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.