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

CRS has been the topic of several research reports. Zacks Investment Research downgraded shares of Carpenter Technology Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 19th. Rosenblatt Securities reissued a “buy” rating and set a $42.00 price target on shares of Carpenter Technology Corp. in a research note on Tuesday, May 17th. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Carpenter Technology Corp. in a research note on Monday, May 16th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of C$37.60.

The company has a 50-day moving average of $35.57 and a 200-day moving average of $32.41. The firm has a market cap of $1.82 billion and a PE ratio of 104.30.

Carpenter Technology Corp. (NYSE:CRS) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $454 million. Carpenter Technology Corp.’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. On average, analysts predict that Carpenter Technology Corp. will post $1.16 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in CRS. Mutual of America Capital Management LLC raised 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 in the last quarter. Morgan Stanley raised 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 in the last quarter. New York State Common Retirement Fund raised 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 in 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 valued at $2,827,000 after buying an additional 1,431 shares in the last quarter. Finally, 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 valued at $4,165,000 after buying an additional 4,200 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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