Zacks Research Issues Optimistic Estimate for CRS Earnings

Carpenter Technology Corporation (NYSE:CRS) – Stock analysts at Zacks Research raised their FY2028 earnings per share (EPS) estimates for Carpenter Technology in a research note issued on Thursday, January 8th. Zacks Research analyst Team now expects that the basic materials company will earn $13.96 per share for the year, up from their prior forecast of $13.92. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $6.83 per share.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. The firm had revenue of $733.70 million for the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS.

CRS has been the topic of a number of other reports. TD Cowen lifted their price objective on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 24th. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft set a $425.00 price target on shares of Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. Jones Trading began coverage on Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price on the stock. Finally, Cowen reissued a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $371.14.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $322.38 on Monday. The company has a current ratio of 4.44, a quick ratio of 2.37 and a debt-to-equity ratio of 0.36. Carpenter Technology has a 1-year low of $138.61 and a 1-year high of $348.99. The stock has a market capitalization of $16.06 billion, a P/E ratio of 39.41, a P/E/G ratio of 1.37 and a beta of 1.29. The business has a 50-day moving average price of $321.58 and a two-hundred day moving average price of $281.51.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, VP Elizabeth A. Socci sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the transaction, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. The trade was a 28.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian J. Malloy sold 4,130 shares of Carpenter Technology stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the completion of the transaction, the chief operating officer owned 78,875 shares in the company, valued at approximately $23,940,140. This represents a 4.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 79,358 shares of company stock worth $24,254,008 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Carpenter Technology

A number of institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. increased its stake in Carpenter Technology by 43.3% in the second quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock valued at $15,500,000 after acquiring an additional 16,954 shares during the last quarter. Schroder Investment Management Group boosted its stake in Carpenter Technology by 11.1% in the second quarter. Schroder Investment Management Group now owns 57,625 shares of the basic materials company’s stock worth $15,926,000 after buying an additional 5,757 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Carpenter Technology during the second quarter valued at approximately $1,460,000. Whitaker Myers Wealth Managers LTD. purchased a new position in shares of Carpenter Technology during the third quarter worth approximately $797,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Carpenter Technology by 15.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock worth $138,328,000 after acquiring an additional 71,872 shares during the last quarter. 92.03% of the stock is 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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.