Carpenter Technology (NYSE:CRS) Reaches New 1-Year High – Should You Buy?

Carpenter Technology Co. (NYSE:CRS) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $199.00 and last traded at $198.39, with a volume of 43283 shares. The stock had previously closed at $193.10.

Analyst Ratings Changes

A number of research firms have weighed in on CRS. Benchmark reaffirmed a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Trading Up 3.1 %

The firm’s 50-day simple moving average is $179.74 and its 200-day simple moving average is $154.41. The firm has a market capitalization of $9.93 billion, a P/E ratio of 44.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current year.

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC bought a new stake in Carpenter Technology during the 4th quarter valued at $419,000. Tlwm boosted its holdings in shares of Carpenter Technology by 4.7% during the fourth quarter. Tlwm now owns 9,987 shares of the basic materials company’s stock worth $1,695,000 after purchasing an additional 445 shares during the period. GAMMA Investing LLC grew its stake in shares of Carpenter Technology by 17.0% in the fourth quarter. GAMMA Investing LLC now owns 2,457 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 357 shares during the last quarter. Tyro Capital Management LLC increased its holdings in Carpenter Technology by 38.8% during the 3rd quarter. Tyro Capital Management LLC now owns 148,749 shares of the basic materials company’s stock valued at $23,737,000 after purchasing an additional 41,601 shares during the period. Finally, Franklin Resources Inc. raised its position in Carpenter Technology by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company’s stock valued at $57,891,000 after purchasing an additional 32,442 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

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.