This Is What Carpenter Technology Corporation (CRS) Investors Need To Do

The stock of Carpenter Technology Corporation (NYSE:CRS) has been Upgraded to Buy from Neutral by Longbow in its latest research note that was published on December 11. Longbow analysts have downgraded their rating of CRS stock from Buy to Neutral in a separate flash note to investors on June 25

Carpenter’s stock is covered by 5 analysts, with none of them rating the stock as Buy. It has been deemed to have strong buy by 3 of the analysts, 2 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only none analysts. 3 of them rated it as strong buy with 3 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that CRS has an average analyst rating of 2.40.

Carpenter Technology Corporation, which has current market capitalization of above $2 Billion, published its last quarter earnings on June 30, 2019. The company was able to amass $641.4 million in revenue. This figure is $3.56 million more than what analysts had expected which was $637.84 million. During the first quarter of the year, Carpenter also recorded $1 earnings per share (EPS) which is $0.06 above the $0.94 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 6.84%.

CRS surged by $2.67 during the normal trading session on Tuesday and reaching a high of $49.39 during the day while it closed the day at $48.24. The Carpenter stock had a low trading volume of 0.15 million shares on that day, which is low compared to the average daily volume of 250.63M shares. CRS has also gained 4.62% of its value over the past 7 days. However, the stock has surged by 2.18% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.47% while it has added 35.47% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -3.29% from its 3 months high price. However, taking another look at CRS will indicate that it is trading +20.48% away from its 90-day low. Looking at the bigger picture, the Carpenter Technology Corporation stock has dropped by -20.63% from its 52-week high while it has surged by +47.21% from its 52-week low price.

On May 21, 2018 Audia Damon J, SVP & CFO sold 10215 shares of the company. The average price for that transaction was $58.86 per share, which meant that Audia Damon J earned $601254.9 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with President and CEO, Thene Tony R selling 31797 shares of this stock on May 18, 2018. The average selling price for the stock was $58.83 per share, with the sold stock accruing $1870618. Following this transaction, the President and CEO Thene Tony R now holds 19170 shares of the company, which is worth around $895622.4.

Carpenter has around 27 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $416 Billion. The Carpenter stock is bringing in revenue of over 12 months, which is roughly 519 Billion. Despite all that, Carpenter Technology Corporation is seeing things progressing very much as their y-o-y quarterly revenue surged by 3.06%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 80.24%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 69.52%. Over the past 20 days, Carpenter’s Stochastic %K stood at 51.05% while its Stochastic %D was revealed to be 57.37%.