Carpenter Technology (NYSE:CRS) was upgraded by stock analysts at Benchmark from a “hold” rating to a “buy” rating in a report released on Thursday, Price Targets.com reports. The firm presently has a $40.00 price target on the basic materials company’s stock. Benchmark’s price objective points to a potential upside of 22.51% from the stock’s current price.
NYSE CRS opened at $32.65 on Thursday. Carpenter Technology has a one year low of $26.84 and a one year high of $49.20. The stock’s 50 day simple moving average is $30.59 and its 200 day simple moving average is $33.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.91 and a current ratio of 3.39.
Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 28th. The basic materials company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.10. The business had revenue of $387.60 million for the quarter, compared to analyst estimates of $428.67 million. Carpenter Technology had a negative return on equity of 6.04% and a negative net margin of 13.07%. Carpenter Technology’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.58) EPS. As a group, equities research analysts forecast that Carpenter Technology will post -1.05 EPS for the current fiscal year.
Carpenter Technology Company Profile
Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment comprises of major premium alloy and stainless steel manufacturing operations.
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