Carpenter Technology (NYSE:CRS) Stock Rating Upgraded by Wells Fargo & Company

Carpenter Technology (NYSE:CRS) was upgraded by equities researchers at Wells Fargo & Company to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the company. KeyCorp assumed coverage on Carpenter Technology in a report on Wednesday, March 25th. They issued an “overweight” rating and a $380.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. Susquehanna began coverage on shares of Carpenter Technology in a research report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price objective on the stock. BTIG Research raised their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. upped their target price on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $387.11.

Carpenter Technology Stock Up 2.5%

Carpenter Technology stock opened at $404.16 on Tuesday. The company has a 50 day moving average of $373.64 and a 200-day moving average of $324.73. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. Carpenter Technology has a twelve month low of $138.61 and a twelve month high of $421.12. The stock has a market capitalization of $20.13 billion, a PE ratio of 46.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the business posted $1.66 earnings per share. On average, equities research analysts anticipate that Carpenter Technology will post 6.83 EPS for the current fiscal year.

Insider Transactions at Carpenter Technology

In related news, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James D. Dee sold 15,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the sale, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 22,300 shares of company stock valued at $8,664,044. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRS. Sands Capital Management LLC acquired a new stake in shares of Carpenter Technology in the fourth quarter valued at about $195,731,000. Norges Bank acquired a new stake in Carpenter Technology during the 4th quarter valued at approximately $195,254,000. Aspex Management HK Ltd bought a new position in Carpenter Technology during the 3rd quarter worth approximately $136,215,000. TOMS Capital Investment Management LP acquired a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $106,683,000. Finally, UBS Group AG boosted its stake in shares of Carpenter Technology by 171.2% in the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after purchasing an additional 382,865 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in 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, as well as additives, and metal powders and parts. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.