Carpenter Technology Corporation (CRS) Receives “Buy” Rating from Rosenblatt Securities
Rosenblatt Securities reiterated their buy rating on shares of Carpenter Technology Corporation (NYSE:CRS) in a research note released on Thursday. The brokerage currently has a $50.00 price target on the stock, up from their prior price target of $39.00.
Several other research firms have also weighed in on CRS. Zacks Investment Research lowered Carpenter Technology Corporation from a hold rating to a sell rating in a research note on Tuesday, December 27th. Deutsche Bank AG started coverage on Carpenter Technology Corporation in a research note on Monday, December 19th. They set a hold rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $39.60.
Carpenter Technology Corporation (NYSE:CRS) traded up 0.63% during mid-day trading on Thursday, reaching $38.45. The company had a trading volume of 247,277 shares. The firm’s 50-day moving average is $37.44 and its 200-day moving average is $37.24. Carpenter Technology Corporation has a one year low of $23.99 and a one year high of $42.27. The firm’s market capitalization is $1.79 billion.
Carpenter Technology Corporation (NYSE:CRS) last released its quarterly earnings data on Thursday, October 27th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.32. The business earned $339.80 million during the quarter, compared to analyst estimates of $429.24 million. Carpenter Technology Corporation had a negative net margin of 0.21% and a positive return on equity of 3.39%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. On average, equities research analysts anticipate that Carpenter Technology Corporation will post $0.68 earnings per share for the current fiscal year.
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In related news, Director Gregory A. Pratt sold 63,966 shares of Carpenter Technology Corporation stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $38.26, for a total value of $2,447,339.16. Following the transaction, the director now directly owns 68,579 shares of the company’s stock, valued at $2,623,832.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.60% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of CRS. Paradigm Capital Management Inc. NY raised its position in Carpenter Technology Corporation by 0.5% in the third quarter. Paradigm Capital Management Inc. NY now owns 10,400 shares of the company’s stock worth $429,000 after buying an additional 50 shares in the last quarter. Granite Investment Partners LLC raised its position in Carpenter Technology Corporation by 0.3% in the third quarter. Granite Investment Partners LLC now owns 17,732 shares of the company’s stock worth $732,000 after buying an additional 55 shares in the last quarter. State Treasurer State of Michigan raised its position in Carpenter Technology Corporation by 0.5% in the third quarter. State Treasurer State of Michigan now owns 18,800 shares of the company’s stock worth $776,000 after buying an additional 100 shares in the last quarter. BlackRock Group LTD raised its position in Carpenter Technology Corporation by 0.3% in the second quarter. BlackRock Group LTD now owns 35,419 shares of the company’s stock worth $1,167,000 after buying an additional 104 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in Carpenter Technology Corporation by 1.0% in the second quarter. Scotia Capital Inc. now owns 16,152 shares of the company’s stock worth $532,000 after buying an additional 153 shares in the last quarter. 95.41% of the stock is currently owned by institutional investors.
Carpenter Technology Corporation Company Profile
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.
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