Carpenter Technology (NYSE:CRS) Given New $240.00 Price Target at JPMorgan Chase & Co.

Carpenter Technology (NYSE:CRS) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $235.00 to $240.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 14.55% from the stock’s current price.

Separately, Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.33.

Carpenter Technology Stock Performance

CRS stock traded up $3.69 during midday trading on Wednesday, reaching $209.52. 393,514 shares of the company’s stock traded hands, compared to its average volume of 746,217. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology has a 52-week low of $62.99 and a 52-week high of $213.65. The stock has a market cap of $10.47 billion, a P/E ratio of 39.41, a PEG ratio of 0.88 and a beta of 1.54. The stock’s 50-day moving average is $187.25 and its 200 day moving average is $169.15.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, analysts anticipate that Carpenter Technology will post 6.83 EPS for the current year.

Institutional Trading of Carpenter Technology

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Carpenter Technology by 59.0% during the 3rd quarter. CWM LLC now owns 1,464 shares of the basic materials company’s stock valued at $234,000 after buying an additional 543 shares during the period. Creative Planning grew its stake in shares of Carpenter Technology by 55.0% during the third quarter. Creative Planning now owns 11,558 shares of the basic materials company’s stock valued at $1,844,000 after buying an additional 4,100 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Carpenter Technology by 2.5% in the third quarter. Raymond James & Associates now owns 120,971 shares of the basic materials company’s stock worth $19,305,000 after buying an additional 2,977 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Carpenter Technology by 523.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 112,049 shares of the basic materials company’s stock worth $17,881,000 after acquiring an additional 94,083 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Carpenter Technology by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock valued at $846,000 after acquiring an additional 196 shares during the period. Institutional investors own 92.03% of the company’s stock.

About Carpenter Technology

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.