Carpenter Technology (NYSE:CRS) Lowered to “Hold” Rating by Zacks Research

Carpenter Technology (NYSE:CRS) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports. Zacks Research also issued estimates for Carpenter Technology’s Q4 2027 earnings at $3.59 EPS, Q4 2027 earnings at $3.60 EPS, FY2027 earnings at $12.82 EPS, Q1 2028 earnings at $3.39 EPS, Q2 2028 earnings at $3.58 EPS, Q2 2028 earnings at $3.59 EPS, Q3 2028 earnings at $4.04 EPS, Q4 2028 earnings at $4.23 EPS, FY2028 earnings at $15.26 EPS, FY2028 earnings at $15.24 EPS and FY2029 earnings at $18.81 EPS.

CRS has been the subject of several other reports. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Wells Fargo & Company upped their price target on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Susquehanna cut their price target on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, KeyCorp lowered their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $577.25.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $411.25 on Tuesday. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 1.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. Carpenter Technology has a 52 week low of $228.00 and a 52 week high of $625.98. The firm’s 50-day simple moving average is $520.20 and its two-hundred day simple moving average is $480.97.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. During the same period in the prior year, the firm earned $2.21 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Carpenter Technology will post 13.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Steven E. Karol sold 3,275 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the sale, the director directly owned 177,000 shares in the company, valued at approximately $83,912,160. The trade was a 1.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ramin Younessi sold 438 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the sale, the director directly owned 1,953 shares in the company, valued at $963,121.95. This trade represents a 18.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,996 shares of company stock worth $54,644,436 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Carpenter Technology

Institutional investors and hedge funds have recently modified their holdings of the company. SkyView Investment Advisors LLC purchased a new stake in Carpenter Technology in the 2nd quarter worth approximately $247,000. Sequoia Financial Advisors LLC raised its position in shares of Carpenter Technology by 36.4% in the second quarter. Sequoia Financial Advisors LLC now owns 3,632 shares of the basic materials company’s stock worth $2,240,000 after buying an additional 969 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Carpenter Technology in the second quarter worth $1,799,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Carpenter Technology during the second quarter valued at $329,000. Finally, Integrated Wealth Concepts LLC boosted its stake in Carpenter Technology by 23.6% during the second quarter. Integrated Wealth Concepts LLC now owns 8,339 shares of the basic materials company’s stock valued at $5,144,000 after buying an additional 1,591 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of premium specialty alloys and engineered materials for demanding applications. The company develops and produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, wear, and stress.

Its products are used in the aerospace and defense, medical, energy, transportation, industrial, and consumer sectors. Carpenter also provides specialty manufacturing capabilities, including additive manufacturing powders, precision-engineered components, and materials tailored to specific customer requirements.