Carpenter Technology (NYSE:CRS) Cut to Hold at Zacks Research

Carpenter Technology (NYSE:CRS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued 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. JPMorgan Chase & Co. decreased their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. BTIG Research boosted their price objective on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. KeyCorp decreased their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Susquehanna lowered their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Finally, TD Cowen lifted their target price on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $577.25.

Carpenter Technology Stock Performance

NYSE:CRS opened at $411.25 on Tuesday. The stock has a market cap of $20.38 billion, a P/E ratio of 39.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $520.20 and its 200-day moving average is $480.97. Carpenter Technology has a 1-year low of $228.00 and a 1-year high of $625.98.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) 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 business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. During the same quarter last year, the business earned $2.21 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Carpenter Technology will post 13.28 earnings per share for the current year.

Insider Transactions at Carpenter Technology

In related news, Director Steven Karol sold 3,275 shares of Carpenter Technology stock in a transaction on Friday, September 4th. The shares were sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the completion of the transaction, the director owned 177,000 shares of the company’s stock, valued at $83,912,160. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Thene sold 57,456 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the completion of the transaction, the chief executive officer owned 439,631 shares in the company, valued at approximately $212,737,440.90. The trade was a 11.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,996 shares of company stock worth $54,644,436 over the last three months. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

Several large investors have recently added to or reduced their stakes in CRS. BlackRock Inc. bought a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $3,834,623,000. Egerton Capital UK LLP boosted its stake in Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after acquiring an additional 178,679 shares in the last quarter. Geode Capital Management LLC grew its holdings in Carpenter Technology by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock worth $307,333,000 after purchasing an additional 78,588 shares during the period. Jennison Associates LLC bought a new stake in Carpenter Technology in the first quarter valued at $317,411,000. Finally, SurgoCap Partners LP bought a new position in Carpenter Technology in the second quarter worth approximately $423,444,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Carpenter Technology

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.