Carpenter Technology Corporation (NYSE:CRS)‘s stock had its “hold” rating reissued by equities researchers at KeyCorp in a report issued on Thursday.

CRS has been the subject of several other reports. Cowen and Company lifted their target price on shares of Carpenter Technology Corporation from $37.00 to $53.00 in a research note on Thursday, October 26th. Longbow Research lifted their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Carpenter Technology Corporation presently has a consensus rating of “Buy” and an average price target of $48.17.

Carpenter Technology Corporation (NYSE:CRS) traded up $0.27 during mid-day trading on Thursday, hitting $45.79. 215,322 shares of the stock were exchanged, compared to its average volume of 354,218. Carpenter Technology Corporation has a 52 week low of $34.24 and a 52 week high of $51.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91. The firm has a market cap of $2,140.00, a P/E ratio of 27.10 and a beta of 2.09.

Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Carpenter Technology Corporation had a net margin of 4.06% and a return on equity of 6.67%. The company had revenue of $479.80 million during the quarter, compared to the consensus estimate of $448.46 million. During the same period last year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. equities research analysts expect that Carpenter Technology Corporation will post 2.24 earnings per share for the current year.

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In other news, Director Steven E. Karol sold 2,645 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total value of $107,122.50. Following the sale, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $40.25, for a total transaction of $161,000.00. Following the completion of the sale, the director now owns 4,200 shares in the company, valued at approximately $169,050. The disclosure for this sale can be found here. Insiders have sold a total of 22,645 shares of company stock worth $909,803 in the last 90 days. Company insiders own 4.51% of the company’s stock.

Several large investors have recently made changes to their positions in CRS. New York State Common Retirement Fund grew its position in Carpenter Technology Corporation by 4.7% in the 2nd quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock worth $1,909,000 after purchasing an additional 2,299 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Carpenter Technology Corporation in the 2nd quarter worth about $802,000. JPMorgan Chase & Co. grew its position in Carpenter Technology Corporation by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 573,376 shares of the basic materials company’s stock worth $21,461,000 after purchasing an additional 66,712 shares during the last quarter. Paradigm Capital Management Inc. NY grew its position in Carpenter Technology Corporation by 23.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 14,700 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Northern Trust Corp grew its position in Carpenter Technology Corporation by 1.6% in the 2nd quarter. Northern Trust Corp now owns 1,072,901 shares of the basic materials company’s stock worth $40,158,000 after purchasing an additional 16,916 shares during the last quarter. 97.62% of the stock is owned by institutional investors and hedge funds.

About Carpenter Technology Corporation

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

Analyst Recommendations for Carpenter Technology Corporation (NYSE:CRS)

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