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Cowen & Co. Thinks Carpenter Technology’s Stock is Going to Recover


Cowen & Co. analyst Gautam Khanna maintained a Buy rating on Carpenter Technology (CRS) today and set a price target of $53. The company’s shares opened today at $40.92, close to its 52-week low of $39.83.

According to TipRanks.com, Khanna is a 4-star analyst with an average return of 8.7% and a 57.9% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, Huntington Ingalls, and Vista Outdoor.

Currently, the analyst consensus on Carpenter Technology is a Moderate Buy with an average price target of $54.33.

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The company has a one-year high of $61.49 and a one-year low of $39.83. Currently, Carpenter Technology has an average volume of 289.7K.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRS in relation to earlier this year. Most recently, in September 2018, Stephen M. Ward, a Director at CRS bought 8,000 shares for a total of $178,800.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Carpenter Technology Corp. engages in the manufacture, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations, and Performance Engineered Products segments. The Specialty Alloys Operations segment comprises of major premium alloy, and stainless steel manufacturing operations.