Carpenter Technology Corp. (NYSE:CRS) rose 2.4% on Thursday . The company traded as high as $34.34 and last traded at $34.13, with a volume of 222,715 shares changing hands. The stock had previously closed at $33.34.

CRS has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Carpenter Technology Corp. from a “sell” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Tuesday, March 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $42.00 price objective on shares of Carpenter Technology Corp. in a report on Tuesday, May 17th. Finally, Sterne Agee CRT reiterated a “neutral” rating on shares of Carpenter Technology Corp. in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$37.60.

The firm has a market capitalization of $1.61 billion and a price-to-earnings ratio of 92.27. The company’s 50 day moving average is $32.53 and its 200-day moving average is $31.43.

Carpenter Technology Corp. (NYSE:CRS) last issued its earnings results on Tuesday, April 26th. The company reported $0.30 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.30. The business earned $456.30 million during the quarter, compared to analyst estimates of $470.75 million. Carpenter Technology Corp.’s quarterly revenue was down 20.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Equities research analysts expect that Carpenter Technology Corp. will post $1.17 earnings per share for the current year.

Several large investors have recently made changes to their positions in CRS. Mutual of America Capital Management LLC raised its stake in shares of Carpenter Technology Corp. by 4.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 34,394 shares of the company’s stock worth $1,041,000 after buying an additional 1,558 shares in the last quarter. Morgan Stanley raised its stake in shares of Carpenter Technology Corp. by 134.9% in the fourth quarter. Morgan Stanley now owns 40,431 shares of the company’s stock worth $1,224,000 after buying an additional 23,218 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Carpenter Technology Corp. by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 49,200 shares of the company’s stock worth $1,489,000 after buying an additional 1,500 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Carpenter Technology Corp. by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 63,119 shares of the company’s stock worth $1,911,000 after buying an additional 290 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Carpenter Technology Corp. during the fourth quarter worth about $2,599,000.

Carpenter Technology Corporation is engaged in the manufacture, fabrication and distribution of specialty metals. It develops, manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense, energy, transportation, medical and industrial and consumer industries.

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