Carpenter Technology (NYSE: CRS ) raises price target to $54.00 on Cowen

Carpenter Technology (NYSE: CRS – Get Rated ) Equity research analysts at Cowen raised their price target on shares of Cowen from $50.00 to $54.00 in a research note to clients and investors Friday, The Fly reported. Cowen’s price target indicates a potential upside of 16.18% from the company’s current price.

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Separately, upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a report on Thursday.

Carpenter Technology shares rose 5.8%

CRS stock opened Friday at $46.48. The stock has a 50-day moving average of $40.48 and a 200-day moving average of $36.75. Carpenter Technology had a one-year low of $24.76 and a one-year high of $46.72. The company has a market capitalization of $2.25 billion, a P/E ratio of -54.05, and a beta of 1.69. The company’s debt-to-equity ratio is 0.53, the quick ratio is 1.30, and the current ratio is 2.80.

Carpenter Technology (NYSE: CRS – Get Rating ) last released quarterly earnings results on Thursday, October 27th. The basic materials company reported earnings per share ($0.14) for the quarter, meeting analysts’ consensus estimate ($0.14). The business reported revenue of $522.9 million in the quarter, compared with the consensus estimate of $558.0 million. Carpenter Technology has a negative net profit margin of 2.09% and a negative return on equity of 3.35%. Sell-side analysts expect Carpenter Technology to report EPS of 1.15 for the fiscal year.

What Hedge Funds Are Saying About Carpenter Technology

Large investors have recently increased or decreased their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Carpenter Technology for US$26,000 in the first quarter. Wipfli Financial Advisors LLC purchased a new stake in Carpenter Technology for approximately $31,000 during the third quarter. KBC Group NV acquired a new stake in Carpenter Technology in the second quarter, valued at approximately $122,000. Alan B. Lancz & Associates Inc. bought about $125,000 worth of new positions at Carpenter Technology in the second quarter. Finally, Captrust Financial Advisors increased its stake in Carpenter Technology by 57.8% during the first quarter. Captrust Financial Advisors now owns 3,704 shares of the basic materials company, worth $155,000, after acquiring an additional 1,356 shares in the period. 92.28% of the shares are currently held by institutional investors.

About Carpenter Technology

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Carpenter Technology Corporation manufactures, manufactures, and distributes specialty metals in the United States, Europe, Asia Pacific, Mexico, Canada, and internationally. It is organized into two segments, Specialty Alloys Business and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powdered metals, stainless steels, alloy steels and tool steels, as well as additives, metal powders and components.

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