Carpenter Technology Corp reaches 5-day high amid strong market performance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2024
0mins
Source: SeekingAlpha
Carpenter Technology Corp's stock rose by 5.00% during regular trading, reaching a 5-day high, reflecting positive investor sentiment in the market.
The increase in Carpenter Technology's stock price is attributed to broad market strength, as the Nasdaq-100 is up 1.45% and the S&P 500 is up 0.53%, indicating a favorable environment for equities. This upward movement aligns with the overall positive trend in the market, contributing to Carpenter's performance.
As the market continues to show strength, Carpenter Technology Corp may benefit from increased investor interest and potential future growth opportunities.
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Analyst Views on CRS
Wall Street analysts forecast CRS stock price to fall
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 434.120
Low
375.00
Averages
380.75
High
388.00
Current: 434.120
Low
375.00
Averages
380.75
High
388.00
About CRS
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company operates in two segments: Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). The SAO segment comprises its premium alloy and stainless-steel manufacturing operations. This includes operations performed at mills primarily in Reading and Latrobe, Pennsylvania and surrounding areas, as well as South Carolina and Alabama. The PEP segment comprises its differentiated operations. This segment includes the Dynamet titanium business, the Carpenter Additive business and the Latrobe and Mexico distribution businesses. It provides specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial and consumer markets. The Company operates its own network of service and distribution centers, located in the United States, Canada, Mexico, Europe and Asia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Granahan Investment Management Sells Zeta Global Shares
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- Decline in Position Value: The fund's quarter-end position value in Zeta Global decreased by $36.96 million, reflecting not only the impact of the share sale but also stock price fluctuations, suggesting a weakening market confidence in Zeta.
- Strong Performance Metrics: Despite the reduction, Zeta Global reported a 50% year-over-year revenue increase to $396 million in Q1, surpassing guidance by $26 million, showcasing the company's robust performance and growth potential in the market.
- AI Platform Driving Growth: Zeta's Athena platform captured over 60% of AI platform usage in its first week, indicating a proactive approach to technological innovation; although investor sentiment is cautious, continued strong execution by management could provide future growth opportunities.
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- Emerging Investments: The hedge fund also disclosed new stakes in the VanEck Semiconductor ETF and aircraft parts supplier TransDigm Group, indicating confidence in the semiconductor sector, particularly amid rising AI-driven market demand.
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- Stock Sale Announcement: Carpenter Technology officer Marshall Dakins plans to sell 11,815 shares of the company's common stock on May 5.
- Market Value: The total market value of the shares to be sold is approximately $5.21 million.
See More
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- Earnings Beat: Carpenter Technology reported a Q3 non-GAAP EPS of $2.77, exceeding expectations by $0.13, indicating strong performance and improved profitability in a competitive market.
- Significant Revenue Growth: The company achieved revenues of $811.5 million in Q3, an 11.6% year-over-year increase, surpassing market expectations by $13.98 million, reflecting robust demand for its specialized solutions.
- Optimistic Outlook: For Q4 FY2026, Carpenter anticipates operating income between $205 million and $210 million, while raising its FY2026 operating income guidance to $700 million to $705 million, representing at least a 33% increase over FY2025.
- Cash Flow Forecast Upgrade: The adjusted free cash flow outlook has been increased to approximately $350 million, indicating strong financial health and the capacity for continued investment and expansion in the coming years.
See More
Carpenter Technology Q3 Earnings Preview Scheduled
- Earnings Announcement Date: Carpenter Technology is set to announce its Q3 earnings on April 29 before market open, with a consensus EPS estimate of $2.64, reflecting a significant year-over-year increase of 40.4%, indicating strong profitability improvements.
- Revenue Expectations: The anticipated revenue for Q3 is $797.52 million, representing a 9.7% year-over-year growth, which suggests robust growth amid recovering market demand, potentially boosting investor confidence.
- Historical Performance: Over the past two years, Carpenter Technology has beaten EPS estimates 100% of the time, while only achieving a 13% beat rate on revenue estimates, indicating a higher reliability in earnings forecasts compared to revenue.
- Estimate Revisions: In the last three months, EPS estimates have seen three upward revisions with no downward adjustments, while revenue estimates experienced two upward revisions and one downward, reflecting analysts' optimistic outlook on the company's future performance.
See More
Analysis of CRS Dividend Predictions and Market Performance
- Dividend Yield Analysis: CRS's current estimated annualized dividend yield stands at 0.19%, and while dividends are generally unpredictable, historical data can assist in assessing the likelihood of continued dividends, thereby influencing investor return expectations.
- Price Fluctuation Range: The 52-week low for CRS shares is $188.12, with a high of $459.18, and the latest trade at $422.75 indicates that the stock is fluctuating near its high, which may affect investor buying decisions.
- ETF Holding Proportion: According to ETF Finder, CRS constitutes 22.76% of the AGF U.S. Market Neutral Anti-Beta Fund ETF (BTAL), which is trading down approximately 0.8% on the day, reflecting overall market sentiment towards CRS.
- Market Performance Overview: In Friday trading, Carpenter Technology Corp. shares are down about 0.8%, indicating a cautious market sentiment regarding the company's short-term performance, which could impact investor confidence.
See More
Granahan Investment Management Sells Zeta Global Shares
- Share Reduction Details: Granahan Investment Management sold 1,593,143 shares of Zeta Global in Q1 2026, with an estimated transaction value of $29.50 million, indicating a cautious outlook on the company's future performance.
- Decline in Position Value: The fund's quarter-end position value in Zeta Global decreased by $36.96 million, reflecting not only the impact of the share sale but also stock price fluctuations, suggesting a weakening market confidence in Zeta.
- Strong Performance Metrics: Despite the reduction, Zeta Global reported a 50% year-over-year revenue increase to $396 million in Q1, surpassing guidance by $26 million, showcasing the company's robust performance and growth potential in the market.
- AI Platform Driving Growth: Zeta's Athena platform captured over 60% of AI platform usage in its first week, indicating a proactive approach to technological innovation; although investor sentiment is cautious, continued strong execution by management could provide future growth opportunities.
See More
Dan Loeb's Third Point Portfolio Adjustments
- Portfolio Expansion: Third Point made significant additions in Q1, initiating positions in tech and semiconductor firms like ASML, Lam Research, and KLA, reflecting a strong commitment to the AI trade and enhancing its competitive edge in the rapidly evolving tech landscape.
- Emerging Investments: The hedge fund also disclosed new stakes in the VanEck Semiconductor ETF and aircraft parts supplier TransDigm Group, indicating confidence in the semiconductor sector, particularly amid rising AI-driven market demand.
- Bitcoin Mining Positioning: Third Point increased its investment in Hut 8, a Miami-based energy infrastructure and bitcoin mining company, whose shares have more than doubled in 2026, highlighting investor interest in AI-related power demand and data center infrastructure opportunities.
- Position Adjustments: While Third Point reduced its stake in Taiwan Semiconductor by 35%, Amazon remains its largest equity holding, demonstrating confidence in the company's long-term growth potential despite a 10% reduction during the quarter.
See More
Carpenter Technology (CRS.US) Officer Plans to Sell $5.21 Million in Common Stock via Form 144
- Stock Sale Announcement: Carpenter Technology officer Marshall Dakins plans to sell 11,815 shares of the company's common stock on May 5.
- Market Value: The total market value of the shares to be sold is approximately $5.21 million.
See More
Carpenter Technology Q3 Earnings Exceed Expectations
- Earnings Beat: Carpenter Technology reported a Q3 non-GAAP EPS of $2.77, exceeding expectations by $0.13, indicating strong performance and improved profitability in a competitive market.
- Significant Revenue Growth: The company achieved revenues of $811.5 million in Q3, an 11.6% year-over-year increase, surpassing market expectations by $13.98 million, reflecting robust demand for its specialized solutions.
- Optimistic Outlook: For Q4 FY2026, Carpenter anticipates operating income between $205 million and $210 million, while raising its FY2026 operating income guidance to $700 million to $705 million, representing at least a 33% increase over FY2025.
- Cash Flow Forecast Upgrade: The adjusted free cash flow outlook has been increased to approximately $350 million, indicating strong financial health and the capacity for continued investment and expansion in the coming years.
See More
Carpenter Technology Q3 Earnings Preview Scheduled
- Earnings Announcement Date: Carpenter Technology is set to announce its Q3 earnings on April 29 before market open, with a consensus EPS estimate of $2.64, reflecting a significant year-over-year increase of 40.4%, indicating strong profitability improvements.
- Revenue Expectations: The anticipated revenue for Q3 is $797.52 million, representing a 9.7% year-over-year growth, which suggests robust growth amid recovering market demand, potentially boosting investor confidence.
- Historical Performance: Over the past two years, Carpenter Technology has beaten EPS estimates 100% of the time, while only achieving a 13% beat rate on revenue estimates, indicating a higher reliability in earnings forecasts compared to revenue.
- Estimate Revisions: In the last three months, EPS estimates have seen three upward revisions with no downward adjustments, while revenue estimates experienced two upward revisions and one downward, reflecting analysts' optimistic outlook on the company's future performance.
See More
Analysis of CRS Dividend Predictions and Market Performance
- Dividend Yield Analysis: CRS's current estimated annualized dividend yield stands at 0.19%, and while dividends are generally unpredictable, historical data can assist in assessing the likelihood of continued dividends, thereby influencing investor return expectations.
- Price Fluctuation Range: The 52-week low for CRS shares is $188.12, with a high of $459.18, and the latest trade at $422.75 indicates that the stock is fluctuating near its high, which may affect investor buying decisions.
- ETF Holding Proportion: According to ETF Finder, CRS constitutes 22.76% of the AGF U.S. Market Neutral Anti-Beta Fund ETF (BTAL), which is trading down approximately 0.8% on the day, reflecting overall market sentiment towards CRS.
- Market Performance Overview: In Friday trading, Carpenter Technology Corp. shares are down about 0.8%, indicating a cautious market sentiment regarding the company's short-term performance, which could impact investor confidence.
See More
