Carpenter Technology Corp. (NYSE:CRS)’s share price reached a new 52-week high during mid-day trading on Thursday . The company 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.

CRS has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Carpenter Technology Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. Rosenblatt Securities reissued a “buy” rating and set a $42.00 price target on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Carpenter Technology Corp. in a research report on Monday, May 16th. One investment 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 an average price target of C$37.60.

The firm’s 50-day moving average is $34.04 and its 200-day moving average is $31.80. The stock has a market capitalization of $1.85 billion and a PE ratio of 106.23.

Carpenter Technology Corp. (NYSE:CRS) last released its earnings results on Tuesday, April 26th. The company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The firm had revenue of $456.30 million for the quarter, compared to analysts’ expectations of $470.75 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was down 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Carpenter Technology Corp. will post $1.16 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake in 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 raised its stake in 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 raised its stake in 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. Sandhill Capital Partners LLC raised its stake in 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. Finally, Russell Frank Co raised its stake in 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 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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