Could Carpenter Technology Corporation (CRS) Change Direction After Reaching 52-Week High?

May 16, 2018 - By Judy Temple

Carpenter Technology Corporation (NYSE:CRS) Logo

Investors sentiment decreased to 1.29 in Q4 2017. Its down 0.10, from 1.39 in 2017Q3. It turned negative, as 9 investors sold Carpenter Technology Corporation shares while 68 reduced holdings. 38 funds opened positions while 61 raised stakes. 44.73 million shares or 2.70% more from 43.55 million shares in 2017Q3 were reported.
Commonwealth Of Pennsylvania Public School Empls Retrmt Systems reported 6,838 shares. The Massachusetts-based Fmr Ltd Liability has invested 0% in Carpenter Technology Corporation (NYSE:CRS). Bnp Paribas Arbitrage owns 0% invested in Carpenter Technology Corporation (NYSE:CRS) for 22,637 shares. Ls Advsrs invested 0.01% of its portfolio in Carpenter Technology Corporation (NYSE:CRS). Teton Advsr Inc has 0.05% invested in Carpenter Technology Corporation (NYSE:CRS) for 11,600 shares. Renaissance Technologies Lc holds 0.01% or 190,800 shares in its portfolio. Teachers Retirement System Of The State Of Kentucky has 7,750 shares for 0% of their portfolio. Carret Asset Management Limited Liability has invested 0.24% in Carpenter Technology Corporation (NYSE:CRS). Zeke Advsr Lc holds 0.02% or 4,047 shares. Old National Bank In reported 0.05% in Carpenter Technology Corporation (NYSE:CRS). Proshare Advsrs Llc has invested 0.01% in Carpenter Technology Corporation (NYSE:CRS). Asset Mgmt stated it has 6,780 shares or 0.01% of all its holdings. Fifth Third National Bank & Trust has 0% invested in Carpenter Technology Corporation (NYSE:CRS). Teacher Retirement Sys Of Texas owns 15,896 shares for 0.01% of their portfolio. Brown Advisory has invested 0% in Carpenter Technology Corporation (NYSE:CRS).

Since May 1, 2018, it had 0 insider purchases, and 5 sales for $994,818 activity. Another trade for 1,007 shares valued at $55,382 was made by LAIN TIMOTHY on Friday, May 4. Another trade for 2,358 shares valued at $133,651 was made by WADSWORTH JEFFREY on Wednesday, May 9. On Tuesday, May 1 TURNER KATHRYN C sold $124,974 worth of Carpenter Technology Corporation (NYSE:CRS) or 2,358 shares. $555,000 worth of Carpenter Technology Corporation (NYSE:CRS) was sold by KAROL STEVEN E on Friday, May 4.

The stock of Carpenter Technology Corporation (NYSE:CRS) hit a new 52-week high and has $63.96 target or 8.00 % above today’s $59.22 share price. The 9 months bullish chart indicates low risk for the $2.78 billion company. The 1-year high was reported on May, 16 by Barchart.com. If the $63.96 price target is reached, the company will be worth $222.32M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.58% or $0.92 during the last trading session, reaching $59.22. About 65,798 shares traded. Carpenter Technology Corporation (NYSE:CRS) has risen 19.91% since May 16, 2017 and is uptrending. It has outperformed by 8.36% the S&P500.

Analysts await Carpenter Technology Corporation (NYSE:CRS) to report earnings on July, 26. They expect $0.75 EPS, up 29.31 % or $0.17 from last year’s $0.58 per share. CRS’s profit will be $35.20 million for 19.74 P/E if the $0.75 EPS becomes a reality. After $0.60 actual EPS reported by Carpenter Technology Corporation for the previous quarter, Wall Street now forecasts 25.00 % EPS growth.

Carpenter Technology Corporation (NYSE:CRS) Ratings Coverage

Among 3 analysts covering Carpenter Technology (NYSE:CRS), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Carpenter Technology has $60.0 highest and $49 lowest target. $54.50’s average target is -7.97% below currents $59.22 stock price. Carpenter Technology had 3 analyst reports since January 22, 2018 according to SRatingsIntel. Cowen & Co upgraded the stock to “Outperform” rating in Friday, April 27 report. The firm earned “Buy” rating on Monday, January 22 by Seaport Global. The stock of Carpenter Technology Corporation (NYSE:CRS) earned “Hold” rating by Deutsche Bank on Wednesday, April 11.

More news for Carpenter Technology Corporation (NYSE:CRS) were recently published by: Globenewswire.com, which released: “Carpenter Technology to Participate in the Credit Suisse Additive Manufacturing Symposium” on May 03, 2018. Globenewswire.com‘s article titled: “Carpenter Declares Quarterly Cash Dividend” and published on April 18, 2018 is yet another important article.

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company has market cap of $2.78 billion. It operates through two divisions, Specialty Alloys Operations and Performance Engineered Products. It has a 17.44 P/E ratio. The firm develops, makes, and distributes cast/wrought and powder metal stainless steels and special alloys, including iron-nickel-cobalt base, stainless, superior corrosion resistant, and controlled expansion alloys; ultra-high strength and implantable alloys; tools and die steels; and other specialty metals, as well as cast/wrought titanium alloys.

Carpenter Technology Corporation (NYSE:CRS) Institutional Positions Chart

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