Carpenter Technology Co. (NYSE:CRS) Receives $167.17 Average PT from Analysts

Shares of Carpenter Technology Co. (NYSE:CRS) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $167.17.

A number of research analysts have issued reports on CRS shares. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th.

Hedge Funds Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently bought and sold shares of CRS. Kestra Investment Management LLC purchased a new position in Carpenter Technology during the fourth quarter valued at $25,000. Ameriflex Group Inc. purchased a new position in Carpenter Technology during the fourth quarter valued at $44,000. CIBC Private Wealth Group LLC lifted its position in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 127 shares in the last quarter. UMB Bank n.a. lifted its position in Carpenter Technology by 169.0% during 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 in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the third quarter valued at about $65,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Down 3.1 %

Shares of NYSE:CRS opened at $180.32 on Friday. The stock has a fifty day simple moving average of $194.14 and a two-hundred day simple moving average of $174.35. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology has a 12-month low of $63.58 and a 12-month high of $213.66. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, research analysts anticipate that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

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.