Carpenter Technology (NYSE:CRS) Rating Lowered to Hold at Wall Street Zen

Carpenter Technology (NYSE:CRS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. TD Cowen reduced their price target on Carpenter Technology from $650.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp decreased their price objective on Carpenter Technology from $608.00 to $465.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research report on Monday, August 31st. Finally, Susquehanna lowered their price objective on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $526.88.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $386.55 on Friday. The stock’s 50 day simple moving average is $461.66 and its two-hundred day simple moving average is $481.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 1.36 and a beta of 1.29. Carpenter Technology has a fifty-two week low of $233.77 and a fifty-two week high of $625.98.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%. The firm had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, analysts expect that Carpenter Technology will post 13.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carpenter Technology news, CEO Tony Thene sold 57,456 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the completion of the transaction, the chief executive officer owned 439,631 shares of the company’s stock, valued at approximately $212,737,440.90. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Karol sold 3,275 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the transaction, the director directly owned 177,000 shares of the company’s stock, valued at $83,912,160. This represents a 1.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 112,996 shares of company stock worth $54,644,436. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Carpenter Technology

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Carpenter Technology in the second quarter worth approximately $3,834,623,000. Jennison Associates LLC purchased a new stake in Carpenter Technology during the first quarter valued at approximately $317,411,000. SurgoCap Partners LP purchased a new stake in Carpenter Technology during the second quarter valued at approximately $423,444,000. Barclays PLC increased its holdings in Carpenter Technology by 9.1% during the fourth quarter. Barclays PLC now owns 645,620 shares of the basic materials company’s stock valued at $203,267,000 after buying an additional 53,639 shares during the last quarter. Finally, Sands Capital Management LLC bought a new position in Carpenter Technology in the fourth quarter worth approximately $195,731,000. 92.03% of the stock is owned by institutional investors.

Carpenter Technology News Roundup

Here are the key news stories impacting Carpenter Technology this week:

• Positive Sentiment: Zacks upgraded CRS to a Buy: The upgrade reflects growing optimism about Carpenter Technology’s earnings prospects and could support the stock if improving fundamentals materialize. What Makes Carpenter CRS a New Buy Stock
• Positive Sentiment: TD Cowen maintained a Buy rating: Although it lowered its price target from $650 to $500, the revised target still implies substantial upside from the recently cited share price, signaling continued confidence in CRS’s long-term prospects. TD Cowen price target update
• Neutral Sentiment: Quarterly dividend maintained: Carpenter Technology declared a $0.20-per-share dividend payable December 3, 2026, to shareholders of record October 20. The annualized payout is $0.80 per share, but the approximately 0.2% yield is unlikely to be a major stock catalyst. Carpenter Technology Declares Quarterly Cash Dividend
• Negative Sentiment: Additional analyst target cut: KeyBanc lowered its price target for CRS to $465, reinforcing concerns about near-term valuation or industry conditions despite the stock’s longer-term support from Buy ratings. KeyBanc cuts target for Carpenter Technology

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of specialty metals and engineered products for applications that require high performance, durability, and resistance to extreme conditions. Founded in 1889, the company produces stainless steels, nickel- and cobalt-based alloys, titanium alloys, and other specialty materials.

Its product offerings include specialty wire, rod, bar, strip, billet, and powder, as well as precision-engineered components and additive-manufacturing materials.