What the Hell Happened at Carpenter Technology Corporation (CRS)?

Stay Ahead of Wall Street. Find out what is happening to Carpenter Technology Corporation (NYSE:CRS) stock today? Its price is nose-diving -2.23 points, trading at $46.01 levels, and is down -4.63% from its previous close of $48.24. The shares seem to have an active trading volume day with a reported 195895 contracts so far this session. CRS shares had a relatively better volume day versus average trading capacity of 250.13 thousand shares, but with a 46.46 million float and a 4.62% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CRS stock indicates that the average analyst price target is $55.5 per share. This means the stock has a potential increase of 20.63% from where the CRS share price has been trading recently which is between $46.58 and $49.39. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $53.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Moving Average Crossover Alert: Carpenter Technology” and dated August 13, 2019.

During the recent trading session for Carpenter Technology Corporation (NYSE:CRS), the company witnessed their stock drop by $-0.85 over a week and surge $0.85 from the price 20 days ago. When compared to their established 52-week high of $60.78, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/19/18. The recent low of $32.77 stood for a -24.31% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.4 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Carpenter Technology Corporation, the two-week RSI stands at 49.03. This figure suggests that CRS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CRS readings is similarly very revealing as it has a stochastic reading of 43.84% at this stage. This figure means that CRS share price today is being neutral.

Technical chart claims that Carpenter Technology Corporation (CRS) would settle between $49.56/share to $50.88/share level. However, if the stock price goes below the $46.75 mark, then the market for Carpenter Technology Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $45.26 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Longbow raised their recommendation on shares of CRS from Neutral to Buy in their opinion released on December 11. Longbow analysts have lowered their rating of Carpenter Technology Corporation (NYSE:CRS) stock from Buy to Neutral in a separate flash note issued to investors on June 25. Analysts at Longbow, made their first call for the equity with a Buy recommendation, according to a research note that dated back to March 21.

CRS equity has an average rating of 2.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Carpenter Technology Corporation (NYSE:CRS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, CRS stock price is currently trading at 9.19X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.29 while for the average stock in the same group, the multiple is 0.96. Carpenter Technology Corporation current P/E ratio of 50.2 means it is trading at a premium against its industry’s 19.27. In the past 5 years, this ratio for the stock has been fluctuating between 16.56 and 141.71.

Carpenter Technology Corporation (CRS)’s current-quarter revenues are projected to climb by nearly 2.52% to hit $586850, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 4.24% from $2.38 billion to a noteworthy $2.48 billion. At the other end of the current quarter income statement, Carpenter Technology Corporation is expected to see its adjusted earnings surge by roughly 40% to hit $0.91 per share. For the fiscal year, CRS’s earnings are projected to climb by roughly 12.72% to hit $3.9 per share.