Carpenter Technology (NYSE:CRS) Price Target Raised to $54.00 at Cowen
Carpenter Technology (NYSE:CRS - Get Rating) had its target price hoisted by equities research analysts at Cowen from $50.00 to $54.00 in a research report issued to clients and investors on Friday, The Fly reports. Cowen's target price indicates a potential upside of 16.18% from the company's current price.
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Separately, StockNews.com raised shares of Carpenter Technology from a "sell" rating to a "hold" rating in a report on Thursday.
Carpenter Technology Trading Up 5.8 %
Shares of CRS opened at $46.48 on Friday. The stock has a 50-day moving average price of $40.48 and a 200 day moving average price of $36.75. Carpenter Technology has a one year low of $24.76 and a one year high of $46.72. The company has a market capitalization of $2.25 billion, a P/E ratio of -54.05 and a beta of 1.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 2.80.
Carpenter Technology (NYSE:CRS - Get Rating) last released its quarterly 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). The business had revenue of $522.90 million during the quarter, compared to the consensus estimate of $558.00 million. Carpenter Technology had a negative net margin of 2.09% and a negative return on equity of 3.35%. Sell-side analysts forecast that Carpenter Technology will post 1.15 EPS for the current fiscal year.
Hedge Funds Weigh In On Carpenter Technology
Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in Carpenter Technology during the first quarter valued at $26,000. Wipfli Financial Advisors LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $31,000. KBC Group NV acquired a new stake in Carpenter Technology during the second quarter worth about $122,000. Alan B. Lancz & Associates Inc. bought a new position in Carpenter Technology in the second quarter worth about $125,000. Finally, Captrust Financial Advisors boosted its stake in Carpenter Technology by 57.8% in the first quarter. Captrust Financial Advisors now owns 3,704 shares of the basic materials company's stock valued at $155,000 after acquiring an additional 1,356 shares during the period. 92.28% of the stock is currently owned by institutional investors.
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.
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