Carpenter Technology (NYSE:CRS) Price Target Increased to $175.00 by Analysts at Benchmark

Carpenter Technology (NYSE:CRS) had its price target lifted by Benchmark from $140.00 to $175.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the stock. Northcoast Research restated a sell rating and issued a $89.00 price target on shares of Carpenter Technology in a research note on Friday, June 14th. TD Cowen upped their price target on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a buy rating in a research note on Monday, June 10th. BTIG Research began coverage on shares of Carpenter Technology in a research note on Wednesday, June 26th. They issued a buy rating and a $120.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They issued a buy rating and a $144.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $130.60.

Carpenter Technology Price Performance

Shares of CRS opened at $140.78 on Friday. The firm has a market capitalization of $6.98 billion, a PE ratio of 53.53 and a beta of 1.44. The company’s 50-day moving average is $109.68 and its 200-day moving average is $86.33. Carpenter Technology has a fifty-two week low of $56.42 and a fifty-two week high of $144.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.45.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.30. The company had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. Equities analysts forecast that Carpenter Technology will post 5.69 EPS for the current year.

Insiders Place Their Bets

In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the sale, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the sale, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James D. Dee sold 23,518 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the sale, the senior vice president now owns 84,798 shares in the company, valued at $9,434,625.48. The disclosure for this sale can be found here. Insiders have sold 59,678 shares of company stock worth $6,261,693 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at approximately $29,000. Whittier Trust Co. acquired a new stake in shares of Carpenter Technology in the 1st quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new position in Carpenter Technology in the 4th quarter valued at approximately $31,000. Westend Capital Management LLC bought a new position in Carpenter Technology in the 1st quarter valued at approximately $36,000. Finally, Covestor Ltd raised its holdings in Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after buying an additional 685 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.