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

Zacks Research cut shares of Carpenter Technology (NYSE:CRS) from a strong-buy rating to a hold rating in a research report report published 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.

A number of other research analysts have also recently issued reports on the stock. TD Cowen increased their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their price target on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. KeyCorp lowered their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Susquehanna reduced their price objective on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a report on Friday, July 31st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $577.25.

Carpenter Technology Stock Performance

NYSE:CRS opened at $411.25 on Tuesday. The firm’s fifty day simple moving average is $520.20 and its 200-day simple moving average is $480.97. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The stock has a market cap of $20.38 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26. Carpenter Technology has a fifty-two week low of $228.00 and a fifty-two week high of $625.98.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $3.09 by $0.14. The firm had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.21 earnings per share. Analysts expect that Carpenter Technology will post 13.28 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th were given a $0.20 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio is currently 7.60%.

Insider Transactions at Carpenter Technology

In other news, Director Steven Karol sold 3,275 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the completion of the transaction, the director directly owned 177,000 shares of the company’s stock, valued at $83,912,160. This trade represents a 1.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ramin Younessi sold 438 shares of Carpenter Technology stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the transaction, the director owned 1,953 shares of the company’s stock, valued at $963,121.95. This represents a 18.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,996 shares of company stock valued at $54,644,436 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Carpenter Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Carpenter Technology in the 2nd quarter valued at about $3,834,623,000. Egerton Capital UK LLP grew its holdings in shares of Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after buying an additional 178,679 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Carpenter Technology by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after buying an additional 78,588 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Carpenter Technology in the first quarter valued at approximately $317,411,000. Finally, SurgoCap Partners LP purchased a new position in shares of Carpenter Technology during the second quarter valued at approximately $423,444,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

About Carpenter Technology

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.