Longbow Research Initiates Coverage On Carpenter Technology Corporation to Buy with Price Target $48

Longbow Research Initiates Coverage On Carpenter Technology Corporation(CRS). In a research note issued to the investors, the brokerage major Announces the price-target to $48 per share. The shares have been rated Buy. The rating by the stock financial advisor at Longbow Research was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 16, 2017, Seaport Global said it Upgrades its rating on Carpenter Technology Corporation. In the research note, the firm Announces the price-target to $45 per share. The shares have been rated ‘Buy’ by the firm.

Carpenter Technology Corporation (CRS) shares turned negative on Fridays trading session with the shares closing down -0.47 points or -1.28% at a volume of 1,58,688. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $36.96. The peak price level was also seen at $36.96 while the days lowest was $36.03. Finally the shares closed at $36.14. The 52-week high of the shares is $45.335 while the 52-week low is $28.74. According to the latest information available, the market cap of the company is $1,688 M.

Carpenter Technology Corporation(CRS) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $427.400M. Analysts had an estimated revenue of $412.500M. Earnings per share were $0.15. Analysts had estimated an EPS of $0.06.

Several Insider Transactions has been reported to the SEC. On Feb 24, 2017, Steven E Karol (director) sold 10,000 shares at $42.02 per share price.Also, On Feb 8, 2017, Kathryn C Turner (director) sold 8,000 shares at $42.60 per share price.On Aug 3, 2016, Gregory A Pratt (director) sold 10,358 shares at $38.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Carpenter Technology Corporation is engaged in the manufacture fabrication and distribution of specialty metals. It develops manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense energy transportation medical and industrial and consumer industries. The Company operates in two segments: Specialty Alloys Operations (SAO) comprises company’s alloy and stainless steel manufacturing operations and Performance Engineered Products (PEP) comprises company’s differentiated operations which include Dynamet titanium business Carpenter Powder Products business Amega West business Specialty Steel Supply business and Latrobe and Mexico distribution businesses. Its product line includes Special alloys Stainless steels Titanium products Powder metals and Alloy and tool steel.

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