Carpenter Technology (NYSE:CRS) Given a $59.00 Price Target by Longbow Research Analysts

Carpenter Technology (NYSE:CRS) has been given a $59.00 target price by research analysts at Longbow Research in a research report issued on Friday, Stock Target Advisor reports. The firm presently has a “buy” rating on the basic materials company’s stock. Longbow Research’s price target points to a potential upside of 35.69% from the company’s previous close.

Several other research firms have also issued reports on CRS. Zacks Investment Research raised shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, April 9th. ValuEngine lowered shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.50.

NYSE CRS opened at $43.48 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 2.53. Carpenter Technology has a 1 year low of $32.77 and a 1 year high of $60.78. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 13.80 and a beta of 2.42.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. Carpenter Technology had a net margin of 6.83% and a return on equity of 9.93%. The firm had revenue of $609.90 million for the quarter, compared to analyst estimates of $585.08 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology will post 3.24 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of CRS. Arizona State Retirement System raised its position in shares of Carpenter Technology by 1.3% in the fourth quarter. Arizona State Retirement System now owns 33,999 shares of the basic materials company’s stock valued at $1,211,000 after purchasing an additional 442 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Carpenter Technology by 71.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,199 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 3,000 shares during the period. Rhumbline Advisers raised its position in shares of Carpenter Technology by 60.9% in the fourth quarter. Rhumbline Advisers now owns 147,547 shares of the basic materials company’s stock valued at $5,254,000 after purchasing an additional 55,827 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Carpenter Technology by 16.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 25,963 shares of the basic materials company’s stock valued at $925,000 after purchasing an additional 3,624 shares during the period. Finally, Dupont Capital Management Corp bought a new position in shares of Carpenter Technology in the fourth quarter valued at about $167,000. 91.82% of the stock is currently owned by institutional investors.

Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

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