Carpenter Technology (NYSE:CRS) Price Target Raised to $240.00 at JPMorgan Chase & Co.

Carpenter Technology (NYSE:CRS) had its target price increased by JPMorgan Chase & Co. from $235.00 to $240.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Separately, Benchmark reaffirmed a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $156.33.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $209.92 on Wednesday. Carpenter Technology has a fifty-two week low of $62.99 and a fifty-two week high of $213.65. The business has a 50-day moving average of $187.83 and a two-hundred day moving average of $169.44. The stock has a market capitalization of $10.49 billion, a P/E ratio of 39.61, a P/E/G ratio of 0.88 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, equities research analysts predict that Carpenter Technology will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.38%. Carpenter Technology’s payout ratio is 15.09%.

Institutional Trading of Carpenter Technology

Several hedge funds have recently added to or reduced their stakes in CRS. CWM LLC boosted its stake in Carpenter Technology by 59.0% during the 3rd quarter. CWM LLC now owns 1,464 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 543 shares during the period. Creative Planning boosted its stake in Carpenter Technology by 55.0% during the 3rd quarter. Creative Planning now owns 11,558 shares of the basic materials company’s stock valued at $1,844,000 after purchasing an additional 4,100 shares during the period. Raymond James & Associates lifted its position in shares of Carpenter Technology by 2.5% in the 3rd quarter. Raymond James & Associates now owns 120,971 shares of the basic materials company’s stock worth $19,305,000 after acquiring an additional 2,977 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Carpenter Technology by 523.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 112,049 shares of the basic materials company’s stock worth $17,881,000 after acquiring an additional 94,083 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Carpenter Technology by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock worth $846,000 after acquiring an additional 196 shares during the period. 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.