Carpenter Technology (NYSE: CRS – rated) The Fly reported in a research report issued to clients and investors on Friday that the target price was raised from $50.00 to $54.00 by Cowen’s equity research analysts. Cowen’s target price indicates a potential 16.18% increase from the company’s current price.
Separately, StockNews.com upgraded Carpenter Technology’s stock from a “sell” rating to a “pending” rating in a report on Thursday.
Carpenter Technology Trading +5.8%
CRS shares opened at $46.48 on Friday. His 50-day moving average price for this stock is $40.48 and its 200-day moving average price is $36.75. Carpenter Technology has a one-year low of $24.76 and a one-year high of $46.72. The company has a market capitalization of $2.25 billion, a P/E ratio of -54.05 and a beta of 1.69. The company has a debt to equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 2.80.
Carpenter Technology (NYSE: CRS – Get Rating) last reported quarterly results on Thursday, Oct. 27. The basic materials company reported his earnings per share ($0.14) for the quarter, hitting analyst consensus expectations ($0.14). The business earned him $522.9 million during the fourth quarter, compared to consensus estimates of his $558 million. Carpenter Technology had a net profit margin of 2.09% and a return on equity of 3.35%. Sell-side analysts expect Carpenter Technology to post 1.15 EPS for the current financial year.
Hedge funds are complicit in Carpenter’s technology
Larger investors have recently added or reduced their stake in the company. Point72 Hong Kong Ltd bought a new stake in Carpenter Technology for $26,000 in the first quarter. Wipfli Financial Advisors LLC purchased approximately $31,000 worth of new Carpenter Technology stock in the third quarter. KBC Group NV acquired a new stake in Carpenter Technology worth approximately $122,000 in the second quarter. Alan B. Lancz & Associates Inc. purchased a new position in Carpenter Technology worth approximately $125,000 in the second quarter. Finally, Captrust Financial Advisors increased its shares in Carpenter Technology by 57.8% in the first quarter. Captrust Financial Advisors now owns 3,704 shares of the underlying materials company valued at $155,000 after acquiring an additional 1,356 shares during this period. Currently 92.28% of the shares are owned by institutional investors.
About Carpenter Technology
Carpenter Technology Corporation is engaged in manufacturing, manufacturing and marketing of specialty metals in the United States, Europe, Asia Pacific, Mexico, Canada and internationally. The company operates in his two segments, Specialty Alloys Business and Performance Engineered Products. The company offers specialty alloys such as titanium alloys, powder metals, stainless steels, alloy steels and tool steels, additives, metal powders and components.
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