Carpenter Technology Corp. (NYSE:CRS)’s share price shot up 3.7% on Tuesday . The company traded as high as $39.79 and last traded at $39.73, with a volume of 171,533 shares. The stock had previously closed at $38.33.

A number of research firms have weighed in on CRS. Rosenblatt Securities reaffirmed a “buy” rating and set a $42.00 price target on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Zacks Investment Research raised Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 18th. Finally, Sterne Agee CRT reaffirmed a “neutral” rating on shares of Carpenter Technology Corp. in a research report on Monday, May 16th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of C$37.60.

The company has a market capitalization of $1.85 billion and a P/E ratio of 106.39. The company’s 50 day moving average is $35.10 and its 200-day moving average is $32.21.

Carpenter Technology Corp. (NYSE:CRS) last issued its earnings results on Tuesday, April 26th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $456.30 million for the quarter, compared to analysts’ expectations of $470.75 million. The company’s revenue was down 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts forecast that Carpenter Technology Corp. will post $1.16 earnings per share for the current year.

A number of large investors have added to or reduced their stakes in CRS. Mutual of America Capital Management LLC boosted its stake in 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 valued at $1,041,000 after buying an additional 1,558 shares during the period. Morgan Stanley boosted its stake in Carpenter Technology Corp. by 134.9% in the fourth quarter. Morgan Stanley now owns 40,431 shares of the company’s stock valued at $1,224,000 after buying an additional 23,218 shares during the period. New York State Common Retirement Fund boosted its stake in 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 valued at $1,489,000 after buying an additional 1,500 shares during the period. California State Teachers Retirement System boosted 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 valued at $2,827,000 after buying an additional 1,431 shares during the period. Finally, California Public Employees Retirement System boosted 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 valued at $4,165,000 after buying an additional 4,200 shares during the period.

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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