Carpenter Technology (NYSE:CRS) Hits New 1-Year High at $112.94

Carpenter Technology Co. (NYSE:CRS)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $112.94 and last traded at $111.02, with a volume of 68710 shares trading hands. The stock had previously closed at $109.48.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Carpenter Technology in a report on Tuesday, May 28th. TD Cowen increased their target price on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. BTIG Research assumed coverage on Carpenter Technology in a research note on Wednesday, June 26th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Northcoast Research reissued a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

Carpenter Technology Stock Up 1.7 %

The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.52 billion, a PE ratio of 41.59 and a beta of 1.44. The firm has a 50-day moving average of $105.94 and a two-hundred day moving average of $82.30.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same period last year, the company posted $0.38 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Carpenter Technology Co. will post 4.35 EPS for the current year.

Insider Buying and Selling at Carpenter Technology

In other news, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the sale, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the sale, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The disclosure for this sale can be found here. Insiders have sold 59,678 shares of company stock valued at $6,261,693 over the last three months. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds have recently bought and sold shares of CRS. Cape Investment Advisory Inc. acquired a new position in Carpenter Technology in the fourth quarter valued at approximately $29,000. Whittier Trust Co. acquired a new position in Carpenter Technology in the first quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new position in Carpenter Technology in the fourth quarter valued at approximately $31,000. Westend Capital Management LLC acquired a new position in Carpenter Technology in the first quarter valued at approximately $36,000. Finally, Covestor Ltd boosted its stake in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 685 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.