Carpenter Technology Corp. (NYSE:CRS)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $40.42 and last traded at $39.93, with a volume of 232,867 shares traded. The stock had previously closed at $38.94.

Several research firms recently commented on CRS. Zacks Investment Research upgraded Carpenter Technology Corp. from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Tuesday, March 22nd. Sterne Agee CRT restated a “neutral” rating on shares of Carpenter Technology Corp. in a research report on Monday, May 16th. Finally, Rosenblatt Securities restated a “buy” rating and set a $42.00 target price on shares of Carpenter Technology Corp. in a research report on Tuesday, May 17th. 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 presently has a consensus rating of “Hold” and a consensus price target of C$37.60.

The firm has a market capitalization of $1.86 billion and a PE ratio of 106.87. The stock’s 50-day moving average is $33.59 and its 200 day moving average is $31.68.

Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. The company had revenue of $456.30 million for the quarter, compared to analyst estimates of $470.75 million. During the same period in the prior year, the company earned $0.32 EPS. The company’s quarterly revenue was down 20.0% compared to the same quarter last year. Analysts expect that Carpenter Technology Corp. will post $1.16 earnings per share for the current year.

A number of large investors recently modified their holdings of the company. EdgePoint Investment Group Inc. increased its stake in shares of Carpenter Technology Corp. by 0.8% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,762,766 shares of the company’s stock worth $144,169,000 after buying an additional 39,189 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Carpenter Technology Corp. by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,118,121 shares of the company’s stock worth $64,117,000 after buying an additional 392,393 shares in the last quarter. Sandhill Capital Partners LLC increased its stake 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 in the last quarter. Russell Frank Co increased its stake in shares of Carpenter Technology Corp. by 9.1% in the fourth quarter. Russell Frank Co now owns 170,243 shares of the company’s stock worth $5,246,000 after buying an additional 14,246 shares in the last quarter. Finally, IronBridge Capital Management LP increased its stake in shares of Carpenter Technology Corp. by 20.9% in the fourth quarter. IronBridge Capital Management LP now owns 157,621 shares of the company’s stock worth $4,771,000 after buying an additional 27,250 shares in 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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