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Published on November 22nd, 2022 📆 | 5550 Views ⚑

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Carpenter Technology (NYSE:CRS) Cut to “Sell” at StockNews.com


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Carpenter Technology (NYSE:CRS - Get Rating) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a report released on Tuesday.

A number of other brokerages also recently issued reports on CRS. Cowen raised shares of Carpenter Technology from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a report on Monday, September 12th. Cowen upgraded shares of Carpenter Technology from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.75.

Carpenter Technology Trading Up 0.6 %

NYSE:CRS opened at $41.23 on Tuesday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -47.94 and a beta of 1.69. The firm has a fifty day simple moving average of $36.43 and a two-hundred day simple moving average of $33.90. Carpenter Technology has a 12 month low of $24.76 and a 12 month high of $44.96. The company has a current ratio of 2.80, a quick ratio of 1.30 and a debt-to-equity ratio of 0.53.

Carpenter Technology (NYSE:CRS - Get Rating) last posted its earnings results on Thursday, October 27th. The basic materials company reported ($0.14) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.14). Carpenter Technology had a negative net margin of 2.09% and a negative return on equity of 3.35%. The business had revenue of $522.90 million for the quarter, compared to analyst estimates of $558.00 million. Analysts expect that Carpenter Technology will post 1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of CRS. Point72 Hong Kong Ltd bought a new stake in shares of Carpenter Technology in the 1st quarter worth $26,000. Wipfli Financial Advisors LLC acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $31,000. Hazlett Burt & Watson Inc. acquired a new position in Carpenter Technology in the 1st quarter valued at approximately $67,000. KBC Group NV bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $122,000. Finally, Alan B. Lancz & Associates Inc. bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $125,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

About Carpenter Technology

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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.

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