BTIG Cuts Carpenter Technology (CRS) Price Target to $470
Key Points
- On October 23, 2026, BTIG maintained its Buy rating on Carpenter Technology Corporation (NYSE: CRS) while lowering its price target from $620.00 to $470.00.
- BTIG's $470 price target implies 27.66% upside from Carpenter Technology Corporation's ($CRS) current $368.16 share price.
- The specialty metal maker recently traded around $368.16, reporting trailing twelve-month earnings of $11.34 per share and a price-to-earnings ratio of 25.77.
- Other Wall Street research desks have also updated their views, with eight analysts currently covering the stock and pointing to a consensus target mean price of $512.00.
Get Carpenter Technology text alerts
We text you when insiders, Congress, analysts or big funds move on $CRS.
By entering your mobile number and tapping the sign-up button, you provide express written consent to receive recurring automated text messages from TradeTexts at that number, including stock alerts about SEC filings, insider and congress trades, analyst ratings, hedge fund moves, and earnings results. Consent is not a condition of any purchase. Message frequency varies. Messages are not investment advice. Message and data rates may apply. Reply HELP for help and STOP to opt out at any time. See our Terms and Privacy Policy.
Not investment advice. TradeTexts is not a registered investment adviser, and this automated Carpenter Technology Corporation alert may contain errors. Disclosures
On October 23, 2026, research firm BTIG maintained its Buy rating on Carpenter Technology Corporation (NYSE: CRS) while adjusting its price target down to $470.00 from $620.00. The research note outlines the firm's forward-looking view on the specialty metal manufacturer following recent market shifts. Carpenter Technology closed at $292.26 on October 22, 2026, and the stock recently traded around $368.16 as of October 23, 2026. Prior to BTIG's update, other financial institutions adjusted their own targets for the company during September and October. Wells Fargo maintained an Equal-Weight rating on September 30, 2026, lowering its target from $540.00 to $430.00. Keybanc kept an Overweight rating on October 8, 2026, reducing its target from $608.00 to $465.00. TD Cowen maintained a Buy rating on October 9, 2026, moving its target from $650.00 to $500.00. JP Morgan kept an Overweight rating on October 14, 2026, adjusting its target from $700.00 to $520.00.
CRS
Carpenter Technology Corporation
BTIG vs. the S&P 500
Hypothetical returns from BTIG's disclosed trades, not real profit or advice. How we model this.
Other Institutional Activity in Carpenter Technology
Institutional investors adjusted their positions in Carpenter Technology ahead of recent quarters. AQR Capital Management, LLC grew its holdings by 735,001 shares, ending with 1,459,426 shares worth about $426,531,857.00. Jennison Associates LLC added 387,361 shares to its portfolio, finishing with 1,192,686 shares valued at approximately $348,574,422.00.
Carpenter Technology Corporation Stock Holds Steady
Carpenter Technology shares recently traded at $368.16, sitting above the $292.26 close recorded on October 22, 2026. The stock trades below its 50-day moving average of $429.52 and below its 200-day moving average of $444.74. Over the past year, shares reached a low of $284.16 and a high of $625.99. The company has a market capitalization of roughly $14.48 billion.
$CRS price target
Carpenter Technology Corporation daily closes and this analyst's $470 target. Not advice.
Recent Earnings
Carpenter Technology reported trailing twelve-month revenue of $3.19 billion and trailing earnings of $11.34 per share. The company generated a net profit margin of 17.9% and posted a return on equity of 27.8%. Year-over-year revenue grew by 8.8%. The company is scheduled to report its next earnings on January 28, 2027.
Dividend
Carpenter Technology pays an annual dividend rate of $0.80 per share, giving it a dividend yield of 0.27%. The payout ratio sits at 7.0%.
Insider Buying and Selling at Carpenter Technology Corporation
Company insiders completed several stock sales prior to the recent analyst updates. Director Steven E. Karol sold 2,000 shares on June 1, 2026, at an average price of $487.74 for a total value of $975,479.00. Director Ramin Younessi sold 438 shares on August 21, 2026, at $493.15 per share, totaling $216,001.00. Chief Executive Officer Tony R. Thene sold 109,283 shares on August 25, 2026, worth $52,875,754.00. Additionally, Director Steven E. Karol sold 3,275 shares on September 4, 2026, at an average price of $474.08, amounting to $1,552,618.00. None of these transactions were executed under a Rule 10b5-1 plan.
Analysts Set New Price Targets
Eight analysts currently cover Carpenter Technology, resulting in a consensus recommendation of strong buy. The overall analyst opinions point toward a target mean price of $512.00, with a high price target of $620.00 and a low target of $361.00.
About Carpenter Technology
Headquartered in Philadelphia, Pennsylvania, Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals. The company operates through its Specialty Alloys Operations and Performance Engineered Products segments, providing materials like titanium alloys, powder metals, stainless steels, alloy steels, and tool steels for industrial customers around the globe.
Bottom Line
Investors will watch for the company's next earnings report on January 28, 2027, to gauge ongoing financial performance in the specialty metals sector. BTIG's updated target of $470.00 reflects the firm's current perspective on the stock following recent market movements.
Related Filing Alerts
Source: BTIG's rating change on $CRS (Oct 23, 2026). Written by software, not financial advice. How we make alerts