ValuEngine upgraded shares of Carpenter Technology (NYSE:CRS) from a sell rating to a hold rating in a research report report published on Friday, ValuEngine reports.
CRS has been the topic of several other reports. Zacks Investment Research raised shares of Carpenter Technology from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Wednesday, June 19th. Longbow Research set a $59.00 price objective on shares of Carpenter Technology and gave the stock a buy rating in a report on Friday, June 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $52.50.
NYSE CRS traded up $1.20 on Friday, hitting $46.98. 322,688 shares of the company were exchanged, compared to its average volume of 215,819. The stock has a market capitalization of $2.23 billion, a P/E ratio of 13.58 and a beta of 2.42. Carpenter Technology has a 12 month low of $32.77 and a 12 month high of $60.78. The stock’s fifty day moving average is $46.41. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 2.53.
Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, August 1st. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.06. The business had revenue of $641.40 million for the quarter, compared to analyst estimates of $637.84 million. Carpenter Technology had a net margin of 6.83% and a return on equity of 9.93%. Carpenter Technology’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, research analysts anticipate that Carpenter Technology will post 3.82 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its holdings in Carpenter Technology by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,980 shares of the basic materials company’s stock worth $911,000 after buying an additional 271 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in Carpenter Technology by 5.3% during the second quarter. Eqis Capital Management Inc. now owns 6,144 shares of the basic materials company’s stock worth $295,000 after buying an additional 307 shares during the last quarter. Arizona State Retirement System raised its holdings in Carpenter Technology by 1.1% during the second quarter. Arizona State Retirement System now owns 34,391 shares of the basic materials company’s stock worth $1,650,000 after buying an additional 369 shares during the last quarter. Mason Street Advisors LLC raised its holdings in Carpenter Technology by 1.5% during the first quarter. Mason Street Advisors LLC now owns 25,195 shares of the basic materials company’s stock worth $1,155,000 after buying an additional 383 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Carpenter Technology by 8.7% in the second quarter. Stephens Inc. AR now owns 5,621 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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