Carpenter Technology (NYSE:CRS) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Carpenter Technology (NYSE:CRS) in a report published on Friday, MarketBeat reports. The brokerage issued an overweight rating and a $220.00 target price on the basic materials company’s stock.

A number of other equities research analysts also recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research increased their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $190.89 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company has a market capitalization of $9.52 billion, a PE ratio of 42.51, a P/E/G ratio of 0.92 and a beta of 1.46. The company has a 50 day moving average price of $161.90 and a 200-day moving average price of $134.76. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $192.34.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same period in the prior year, the business earned $0.88 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that Carpenter Technology will post 6.61 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Institutional Trading of Carpenter Technology

Large investors have recently made changes to their positions in the business. Kimelman & Baird LLC acquired a new position in Carpenter Technology during the second quarter valued at $33,000. nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter valued at about $64,000. Banque Cantonale Vaudoise purchased a new stake in shares of Carpenter Technology in the third quarter worth about $65,000. National Bank of Canada FI acquired a new stake in Carpenter Technology during the second quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC raised its position in Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 178 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.