Seaport Global analyst Josh Sullivan reiterated a Buy rating on Carpenter Technology (NYSE: CRS) yesterday and set a price target of $67. The company’s shares opened today at $59, close to its 52-week high of $61.49.
According to TipRanks.com, Sullivan is a 5-star analyst with an average return of 15.8% and a 75.3% success rate. Sullivan covers the Consumer Goods sector, focusing on stocks such as BWX Technologies, Flir Systems, and HEICO Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carpenter Technology with a $66.50 average price target, a 12.7% upside from current levels. In a report released today, Cowen & Co. also assigned a Buy rating to the stock with a $66 price target.
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Based on Carpenter Technology’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $618 million and net profit of $42.8 million. In comparison, last year the company had a net profit of $25.4 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Gregory Pratt, a Director at CRS sold 33,860 shares for a total of $1,916,815.
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Carpenter Technology Corp. engages in the manufacture, fabrication, and distribution of specialty metals. It operates through the following segments: Specialty Alloys Operations and Performance Engineered Products. The Specialty Alloys Operations segment comprises of the company’s premium alloy and stainless steel manufacturing operations.
