Carpenter Technology Corporation (NYSE:CRS)‘s stock had its “hold” rating reissued by equities researchers at Cowen and Company in a note issued to investors on Monday. They currently have a $37.00 price objective on the basic materials company’s stock. Cowen and Company’s price objective would suggest a potential downside of 1.33% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Wednesday, April 5th. Longbow Research started coverage on shares of Carpenter Technology Corporation in a research report on Tuesday, March 21st. They set a “buy” rating and a $48.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Carpenter Technology Corporation has an average rating of “Buy” and a consensus price target of $42.83.

Shares of Carpenter Technology Corporation (NYSE:CRS) traded up 4.787% during trading on Monday, reaching $39.295. 89,547 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $36.87 and its 200 day moving average price is $38.01. Carpenter Technology Corporation has a 52 week low of $30.37 and a 52 week high of $45.34. The firm has a market capitalization of $1.84 billion, a PE ratio of 51.232 and a beta of 2.07.

Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.12. Carpenter Technology Corporation had a net margin of 2.08% and a return on equity of 3.57%. The company had revenue of $473.60 million during the quarter, compared to analyst estimates of $478.80 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that Carpenter Technology Corporation will post $0.98 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Carpenter Technology Corporation by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,018 shares of the basic materials company’s stock valued at $637,000 after buying an additional 745 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of Carpenter Technology Corporation by 133.9% in the second quarter. OLD National Bancorp IN now owns 21,104 shares of the basic materials company’s stock valued at $790,000 after buying an additional 12,082 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Carpenter Technology Corporation by 7.7% in the second quarter. Capstone Asset Management Co. now owns 6,029 shares of the basic materials company’s stock valued at $226,000 after buying an additional 430 shares during the last quarter. Capital One National Association boosted its position in shares of Carpenter Technology Corporation by 4.3% in the second quarter. Capital One National Association now owns 25,436 shares of the basic materials company’s stock valued at $952,000 after buying an additional 1,055 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Carpenter Technology Corporation during the second quarter valued at approximately $202,000. Institutional investors own 94.93% of the company’s stock.

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.

Analyst Recommendations for Carpenter Technology Corporation (NYSE:CRS)

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