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

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Carpenter Technology (NYSE:CRS) in a report 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 target suggests a potential upside of 21.56% from the stock’s current price.

Other research analysts also recently issued reports about the company. BTIG Research boosted their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark restated a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Trading Up 0.2 %

Carpenter Technology stock opened at $180.98 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology has a one year low of $58.87 and a one year high of $187.03. The stock has a market capitalization of $9.02 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The business’s fifty day moving average is $161.90 and its 200 day moving average is $134.76.

Carpenter Technology (NYSE:CRS) last announced 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 for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. On average, sell-side analysts predict that Carpenter Technology will post 6.61 EPS for the current year.

Institutional Trading of Carpenter Technology

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock worth $406,096,000 after acquiring an additional 15,564 shares in the last quarter. FMR LLC raised its holdings in Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after buying an additional 1,108,963 shares during the period. Geode Capital Management LLC raised its holdings in Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock valued at $175,607,000 after buying an additional 17,497 shares during the period. American Century Companies Inc. raised its holdings in Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after buying an additional 479,047 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after buying an additional 103,559 shares during the period. 92.03% of the stock is owned by hedge funds and other 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.