Carpenter Technology (NYSE:CRS) Rating Lowered to Hold at Zacks Research

Carpenter Technology (NYSE:CRS) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports. Zacks Research also issued estimates for Carpenter Technology’s Q4 2027 earnings at $3.59 EPS, Q4 2027 earnings at $3.60 EPS, FY2027 earnings at $12.82 EPS, Q1 2028 earnings at $3.39 EPS, Q2 2028 earnings at $3.58 EPS, Q2 2028 earnings at $3.59 EPS, Q3 2028 earnings at $4.04 EPS, Q4 2028 earnings at $4.23 EPS, FY2028 earnings at $15.26 EPS, FY2028 earnings at $15.24 EPS and FY2029 earnings at $18.81 EPS.

Several other research firms have also commented on CRS. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Monday, August 31st. Wells Fargo & Company increased their target price on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. BTIG Research raised their price target on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. KeyCorp dropped their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, TD Cowen boosted their price target on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.25.

Carpenter Technology Stock Down 1.0%

Carpenter Technology stock opened at $411.25 on Tuesday. Carpenter Technology has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26. The stock’s fifty day moving average is $520.20 and its two-hundred day moving average is $480.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 EPS. Analysts predict that Carpenter Technology will post 13.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carpenter Technology news, Director Steven E. Karol sold 3,275 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the transaction, the director owned 177,000 shares of the company’s stock, valued at $83,912,160. This represents a 1.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tony R. Thene sold 57,456 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the transaction, the chief executive officer directly owned 439,631 shares in the company, valued at approximately $212,737,440.90. This represents a 11.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 112,996 shares of company stock valued at $54,644,436. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

Institutional investors have recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. purchased a new stake in Carpenter Technology in the 2nd quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Carpenter Technology during the 1st quarter worth about $30,000. SJS Investment Consulting Inc. boosted its position in shares of Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Carpenter Technology in the first quarter worth approximately $52,000. Finally, Longview Financial Advisors Inc. purchased a new stake in Carpenter Technology in the first quarter valued at approximately $55,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of premium specialty alloys and engineered materials for demanding applications. The company develops and produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, wear, and stress.

Its products are used in the aerospace and defense, medical, energy, transportation, industrial, and consumer sectors. Carpenter also provides specialty manufacturing capabilities, including additive manufacturing powders, precision-engineered components, and materials tailored to specific customer requirements.