The Vanguard Group, Inc. has recently announced that it has increased stake in Carpenter Technology Corporation (NYSE:CRS) by 1.70%. After grabbing 5.57 million shares, the institutional investor is now in possession of 93312.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 11.50% having worth around $228.76 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.12 million to have a control over 3.45 million shares. And T. Rowe Price Investment Manageme raised its holdings to 2.15 million shares by acquiring 2.15 million shares or 4.44% of the stake.
Carpenter Technology Corporation (CRS) concluded trading on 01/11/23 at a closing price of $42.97, with 0.38 million shares of worth about $16.32 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 55.97% during that period and on Wednesday the price saw a gain of about 2.70%. Currently the company’s common shares owned by public are about 48.70M shares, out of which, 47.30M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the CRS stock and their offered price forecasts bring an average price target of $45.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $50.00 and could fall to a lowest price of $40.00. The stock’s current price level is 4.51% above of average price target set by the analysts, while a rise to estimated low would result in loss of -7.42% for the stock. However, touching the estimated high of $50.00 would mean a gain of 14.06% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 48 times over the past 12 months. They bought 116,774 shares in 16 of the transactions. In 32 selling transactions, insiders dumped 42,345 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and T Rowe Price Small Cap Value Fund are the top 3 mutual funds which are holding stakes in Carpenter Technology Corporation iShares Core S&P Small Cap ETF is currently holding 3.62 million shares of worth totaling $148.47 million. The company recently came buying 1232.0 shares which brought its stake up to 7.46% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 2448.0 shares, after which its hold over company’s outstanding shares expand to 3.04%, leaving 1.47 million shares with the mutual fund that have a worth of about $60.44 million. T Rowe Price Small Cap Value Fund, after selling 1.37 million shares, have now control over 2.83% of the stake in the company. It holds -0.17 million shares of worth $56.21 million.
Carpenter Technology Corporation (NYSE: CRS) started trading at $41.98, above $0.14 from concluding price of the previous day. However, the stock later moved at a day high price of 43.33, or with a gain of 2.70%. Stock saw a price change of 16.36% in past 5 days and over the past one month there was a price change of 9.28%. Year-to-date (YTD), CRS shares are showing a performance of 16.32% which increased to 33.03% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $24.76 but also hit the highest price of $44.96 during that period. The average intraday trading volume for Carpenter Technology Corporation shares is 257.71K. The stock is currently trading 12.52% above its 20-day simple moving average (SMA20), while that difference is up 9.37% for SMA50 and it goes to 19.98% higher than SMA200.
The Vanguard Group, Inc. acquired 5.57 million shares of Carpenter Technology Corporation having value of about $228.76 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 93312.0 shares in the company valued at close to $4009616.64, or have control over 1.70% stake in the company. Carpenter Technology Corporation (NYSE: CRS) currently have 48.70M outstanding shares and institutions hold larger chunk of about 94.40% of that. Holding of mutual funds in the company is about 61.11% while other institutional holders and individual stake holders have control over 9.70% and 32.69% of the stake respectively.
The stock has a current market capitalization of $1.98B and its 3Y-monthly beta is at 1.71. It has posted earnings per share of -$0.85 in the same period. It has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRS, volatility over the week remained 5.25% while standing at 4.13% over the month.
Analysts are in expectations that Carpenter Technology Corporation (CRS) stock would likely to be making an EPS of $0.15 in the current quarter, while forecast for next quarter EPS is $0.5 and it is $2.7 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.03 which is $0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 78.70% while it is estimated to increase by 108.41% in next year. EPS is likely to grow at an annualized rate of 22.87% for next 5-years, compared to annual growth of -24.80% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the Carpenter Technology Corporation (CRS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 5 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cowen on September 12, 2022 offering an Outperform rating for the stock and assigned a target price of $45 to it. Coverage by JP Morgan stated Carpenter Technology Corporation (CRS) stock as an Overweight in their note to investors on February 11, 2022, suggesting a price target of $53 for the stock. On January 13, 2022, The Benchmark Company Upgrade their recommendations, while on June 16, 2021, JP Morgan Initiated their ratings for the stock with a price target of $49. Stock get a Market perform rating from Cowen on August 13, 2020.