Carpenter Technology (NYSE:CRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Carpenter Technology Corporation is a leading manufacturer and distributor of specialty alloys, including stainless steel and titanium, and various engineered products made from metallic and ceramic materials. These products have been used in planes, cars and trucks, electronic equipment, medical devices and instruments, industrial fittings, sporting goods, and oil and gas exploration and processing. Carpenter engineered materials have been used in hundreds of applications from industrial tools to jet engines to fuel injectors and medical implants. Its engineered materials are known for their dependability, strength, toughness, corrosion resistance, and the ability to stay intact in high temperatures. “

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Separately, Deutsche Bank boosted their price target on shares of Carpenter Technology from $47.00 to $49.00 and gave the stock a “hold” rating in a report on Wednesday, April 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $53.25.

Shares of NYSE:CRS traded up $0.87 during trading on Monday, hitting $49.35. 225,287 shares of the stock traded hands, compared to its average volume of 451,363. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.00. The firm has a market cap of $2,274.51, a price-to-earnings ratio of 45.69 and a beta of 2.02. Carpenter Technology has a 52-week low of $34.24 and a 52-week high of $54.61.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $487.80 million during the quarter, compared to analyst estimates of $482.20 million. Carpenter Technology had a net margin of 8.30% and a return on equity of 7.94%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. sell-side analysts anticipate that Carpenter Technology will post 2.32 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CRS. Huntington National Bank boosted its stake in Carpenter Technology by 1,902.0% during the 4th quarter. Huntington National Bank now owns 2,002 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 1,902 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Carpenter Technology during the 4th quarter worth $103,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Carpenter Technology by 90.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 1,529 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in Carpenter Technology during the 4th quarter worth $202,000. Finally, Zeke Capital Advisors LLC acquired a new stake in Carpenter Technology during the 4th quarter worth $206,000. 98.31% of the stock is owned by institutional investors.

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About Carpenter Technology

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels.

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