Separately, analysts at Sterne Agee initiated coverage on shares of Carpenter Technology in a research note to investors on Monday, March 19th. They set a “buy” rating and a $75.00 price target on the stock.
Shares of Carpenter Technology traded up 0.16% during mid-day trading on Friday, hitting $55.75. Carpenter Technology has a 52 week low of $39.32 and a 52 week high of $60.00. The company has a market cap of $2.631 billion and a P/E ratio of 24.00.
The company last announced its quarterly results on Wednesday, April 25th. It reported $0.84 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.68 EPS by $0.16. The company’s quarterly revenue was up 16.3% on a year-over-year basis. On average, analysts predict that Carpenter Technology will post $0.77 earnings per share next quarter.
Carpenter Technology Corporation (Carpenter) is engaged in the manufacturing, fabrication and distribution of specialty metals.