Carpenter Technology Co. (NYSE:CRS) Receives $139.60 Consensus Target Price from Analysts

Shares of Carpenter Technology Co. (NYSE:CRS) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $139.60.

A number of equities analysts recently commented on CRS shares. TD Cowen raised their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Northcoast Research reaffirmed a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a research note on Friday, June 14th. Benchmark increased their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BTIG Research increased their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price for the company.

Carpenter Technology Trading Up 2.0 %

Shares of NYSE:CRS opened at $142.41 on Monday. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 0.77 and a beta of 1.45. Carpenter Technology has a 1-year low of $58.87 and a 1-year high of $148.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The company has a 50 day moving average price of $133.83 and a 200 day moving average price of $105.37.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The firm had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, research analysts anticipate that Carpenter Technology will post 6.06 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. Carpenter Technology’s dividend payout ratio is currently 30.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRS. Precision Wealth Strategies LLC acquired a new position in Carpenter Technology in the 4th quarter valued at $202,000. Victory Capital Management Inc. grew its position in Carpenter Technology by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 22,621 shares of the basic materials company’s stock worth $1,602,000 after purchasing an additional 1,419 shares during the last quarter. Natixis Advisors L.P. grew its position in Carpenter Technology by 6.3% in the 4th quarter. Natixis Advisors L.P. now owns 23,675 shares of the basic materials company’s stock worth $1,676,000 after purchasing an additional 1,412 shares during the last quarter. NBC Securities Inc. increased its stake in Carpenter Technology by 55.9% in the fourth quarter. NBC Securities Inc. now owns 2,129 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 763 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Carpenter Technology by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock valued at $256,072,000 after acquiring an additional 43,589 shares during the period. Institutional investors 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.