Carpenter Technology Corporation (NYSE: CRS) stock jumped 1.29% on Thursday to $69.33 against a previous-day closing price of $68.45. With 0.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.38 million shares. The 52-week range on CRS shows that it touched its highest point at $69.43 and its lowest point at $31.02 during that stretch. It currently has a 1-year price target of $70.00. With its current market cap of 3.37 billion, CRS has annualized dividend of $0.80 while the current yield stands at 1.15%. Beta for the stock currently stands at 1.77.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRS was up-trending over the past week, with a rise of 11.73%, but this was up by 19.35% over a month. Three-month performance surged to 34.39% while six-month performance rose 65.98%. The stock gained 84.83% in the past year, while it has gained 87.68% so far this year. A look at the trailing 12-month EPS for CRS yields 1.13 with Next year EPS estimates of 4.76. For the next quarter, that number is 0.77. This implies an EPS growth rate of 212.20% for this year and 31.75% for next year. EPS is expected to grow by 22.87% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -14.50%.
Float and Shares Shorts:
At present, 49.10 million CRS shares are outstanding with a float of 47.65 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.19 million, which was 2.44% higher than short shares on Jul 30, 2023. In addition to Mr. Tony R. Thene as the firm’s Pres, CEO & Director, Mr. Timothy Lain serves as its Sr. VP & CFO.
Through their ownership of 95.61% of CRS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.60% of CRS, in contrast to 60.34% held by mutual funds. Shares owned by individuals account for 34.37%. As the largest shareholder in CRS with 15.27% of the stake, BlackRock Fund Advisors holds 7,411,836 shares worth 7,411,836. A second-largest stockholder of CRS, The Vanguard Group, Inc., holds 5,719,964 shares, controlling over 11.78% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in CRS, holding 3,644,410 shares or 7.51% stake. With a 7.07% stake in CRS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,430,655 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of CRS stock, is the second-largest Mutual Fund holder. It holds 1,509,727 shares valued at 90.37 million. Vanguard Small Cap Index Fund holds 2.59% of the stake in CRS, owning 1,259,304 shares worth 75.38 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CRS reported revenue of $563.80M and operating income of $24.60M. The EBITDA in the recently reported quarter was $24.80M and diluted EPS was $0.05.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CRS analysts setting a high price target of $100.00 and a low target of $72.00, the average target price over the next 12 months is $81.67. Based on these targets, CRS could surge 44.24% to reach the target high and rise by 3.85% to reach the target low. Reaching the average price target will result in a growth of 17.8% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CRS stock several times over the past three months with 18 Buys and 33 Sells. In these transactions, 231,631 shares were bought while 227,735 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 237,353 while 233,457 shares were sold.