Carpenter Technology (NYSE:CRS) Coverage Initiated at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology (NYSE:CRS) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $220.00 price target on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 21.56% from the stock’s previous close.

Several other brokerages have also issued reports on CRS. Benchmark reaffirmed a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research upped their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Trading Up 0.2 %

Shares of CRS opened at $180.98 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $161.90 and its 200-day moving average price is $134.76. The stock has a market cap of $9.02 billion, a PE ratio of 40.31, a P/E/G ratio of 0.94 and a beta of 1.46. Carpenter Technology has a twelve month low of $58.87 and a twelve month high of $187.03.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities analysts forecast that Carpenter Technology will post 6.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Carpenter Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Virtue Capital Management LLC bought a new position in Carpenter Technology in the third quarter worth $860,000. Geode Capital Management LLC raised its holdings in Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after purchasing an additional 17,497 shares in the last quarter. Barclays PLC raised its holdings in Carpenter Technology by 471.1% in the third quarter. Barclays PLC now owns 101,745 shares of the basic materials company’s stock worth $16,236,000 after purchasing an additional 83,930 shares in the last quarter. Zacks Investment Management raised its holdings in Carpenter Technology by 165.6% in the third quarter. Zacks Investment Management now owns 13,675 shares of the basic materials company’s stock worth $2,182,000 after purchasing an additional 8,527 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Carpenter Technology by 8,300.2% during the third quarter. National Bank of Canada FI now owns 38,473 shares of the basic materials company’s stock valued at $6,140,000 after acquiring an additional 38,015 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.