JPMorgan Chase & Co. Boosts Carpenter Technology (NYSE:CRS) Price Target to $235.00

Carpenter Technology (NYSE:CRS) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $220.00 to $235.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.59% from the stock’s previous close.

Separately, Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Carpenter Technology Stock Down 0.9 %

Shares of NYSE:CRS opened at $210.59 on Monday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 0.98 and a beta of 1.55. The stock’s 50-day moving average price is $186.11 and its two-hundred day moving average price is $161.27. Carpenter Technology has a 12-month low of $58.87 and a 12-month high of $213.65.

Carpenter Technology (NYSE:CRS) last released 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. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same period last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts forecast that Carpenter Technology will post 6.77 EPS for the current year.

Institutional Investors Weigh In On Carpenter Technology

Large investors have recently made changes to their positions in the business. Kimelman & Baird LLC acquired a new stake in Carpenter Technology in the second quarter valued at approximately $33,000. UMB Bank n.a. boosted its stake in shares of Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. nVerses Capital LLC acquired a new stake in Carpenter Technology during the 3rd quarter valued at $64,000. Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology during the 3rd quarter worth $65,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Carpenter Technology in the 3rd quarter worth $80,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

About Carpenter Technology

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.