Carpenter Technology (NYSE:CRS) Now Covered by Northcoast Research

Investment analysts at Northcoast Research initiated coverage on shares of Carpenter Technology (NYSE:CRS - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $73.00 price target on the basic materials company's stock. Northcoast Research's target price suggests a potential upside of 26.37% from the stock's current price.

Several other research analysts have also weighed in on the stock. TD Cowen boosted their price objective on shares of Carpenter Technology from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 1st. StockNews.com initiated coverage on shares of Carpenter Technology in a research note on Thursday, August 17th. They issued a "hold" rating on the stock. Finally, TheStreet upgraded shares of Carpenter Technology from a "c+" rating to a "b" rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

Read Our Latest Stock Report on Carpenter Technology

Shares of CRS stock opened at $57.77 on Friday. The company has a current ratio of 2.79, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. Carpenter Technology has a 1 year low of $31.02 and a 1 year high of $61.02. The firm's fifty day moving average price is $56.45 and its two-hundred day moving average price is $50.53. The firm has a market capitalization of $2.82 billion, a P/E ratio of 50.23 and a beta of 1.80.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $758.10 million for the quarter, compared to analyst estimates of $743.07 million. Carpenter Technology had a net margin of 2.21% and a return on equity of 4.21%. Carpenter Technology's revenue was up 34.5% compared to the same quarter last year. On average, equities analysts predict that Carpenter Technology will post 3.48 EPS for the current fiscal year.

In other news, SVP Brian J. Malloy sold 10,372 shares of the company's stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $59.69, for a total transaction of $619,104.68. Following the completion of the sale, the senior vice president now owns 51,551 shares of the company's stock, valued at approximately $3,077,079.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Steven E. Karol sold 810 shares of the company's stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $60.55, for a total transaction of $49,045.50. Following the completion of the transaction, the director now directly owns 229,733 shares in the company, valued at approximately $13,910,333.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian J. Malloy sold 10,372 shares of the company's stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.69, for a total transaction of $619,104.68. Following the transaction, the senior vice president now owns 51,551 shares of the company's stock, valued at $3,077,079.19. The disclosure for this sale can be found here. Insiders own 3.50% of the company's stock.

A number of institutional investors have recently added to or reduced their stakes in CRS. State Street Corp increased its position in Carpenter Technology by 35.7% during the 1st quarter. State Street Corp now owns 3,358,268 shares of the basic materials company's stock worth $140,980,000 after purchasing an additional 883,239 shares in the last quarter. Millennium Management LLC acquired a new position in Carpenter Technology during the 2nd quarter worth approximately $18,635,000. Norges Bank acquired a new position in Carpenter Technology during the 4th quarter worth approximately $20,328,000. Invesco Ltd. increased its position in Carpenter Technology by 33.9% in the 1st quarter. Invesco Ltd. now owns 1,453,421 shares of the basic materials company's stock valued at $61,014,000 after acquiring an additional 368,093 shares during the period. Finally, SPX Gestao de Recursos Ltda acquired a new position in Carpenter Technology in the 2nd quarter valued at approximately $20,658,000. 92.31% of the stock is currently owned by institutional investors and hedge funds.

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.

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