Carpenter Technology Corp. (NYSE:CRS) shares reached a new 52-week high on Wednesday . The company traded as high as $40.46 and last traded at $39.47, with a volume of 146,509 shares traded. The stock had previously closed at $39.79.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 18th. Sterne Agee CRT reissued a “neutral” rating on shares of Carpenter Technology Corp. in a research report on Monday, May 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $42.00 price objective on shares of Carpenter Technology Corp. in a research report on Tuesday, May 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Carpenter Technology Corp. presently has an average rating of “Hold” and a consensus target price of C$37.60.

The company has a market capitalization of $1.84 billion and a price-to-earnings ratio of 105.45. The company’s 50-day moving average price is $35.28 and its 200 day moving average price is $32.30.

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, meeting analysts’ consensus estimates of $0.30. During the same period last year, the business posted $0.32 EPS. The business earned $456.30 million during the quarter, compared to the consensus estimate of $470.75 million. The firm’s revenue for the quarter was down 20.0% on a year-over-year basis. On average, equities research analysts forecast that Carpenter Technology Corp. will post $1.16 EPS for the current fiscal year.

A number of hedge funds and institutional investors have added to or reduced their stakes in CRS. Russell Frank Co increased its position 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 period. California State Teachers Retirement System increased its position 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 period. California Public Employees Retirement System increased its position 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 period. New York State Common Retirement Fund increased its position 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 worth $1,489,000 after buying an additional 1,500 shares during the period. Finally, Mutual of America Capital Management LLC increased its position 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 worth $1,041,000 after buying an additional 1,558 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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