Shares of Carpenter Technology Corp. (NYSE:CRS) traded up 2.4% during mid-day trading on Thursday . The stock 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.

Several analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Carpenter Technology Corp. in a research report on Friday. Zacks Investment Research cut Carpenter Technology Corp. from a “buy” rating to a “hold” rating in a research note on Monday, April 11th. Finally, Sterne Agee CRT reiterated a “neutral” rating on shares of Carpenter Technology Corp. in a research note on Monday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$37.60.

The stock has a 50-day moving average of $32.88 and a 200 day moving average of $31.51. The stock has a market cap of $1.70 billion and a PE ratio of 97.54.

Carpenter Technology Corp. (NYSE:CRS) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $456.30 million for the quarter, compared to analyst estimates of $470.75 million. The firm’s quarterly revenue was down 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, equities analysts predict that Carpenter Technology Corp. will post $1.17 EPS for the current fiscal year.

Other large investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Carpenter Technology Corp. during the fourth quarter valued at about $2,599,000. California Public Employees Retirement System increased its position in shares of Carpenter Technology Corp. by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 137,600 shares of the company’s stock worth $4,165,000 after buying an additional 4,200 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Carpenter Technology Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 93,387 shares of the company’s stock worth $2,827,000 after buying an additional 1,431 shares during the last quarter. Retirement Systems of Alabama increased its position 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 during the last quarter. Finally, Sandhill Capital Partners LLC increased its position in shares of Carpenter Technology Corp. by 407.2% in the fourth quarter. Sandhill Capital Partners LLC now owns 419,455 shares of the company’s stock worth $12,697,000 after buying an additional 336,749 shares during the last quarter.

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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