CWCO vs. GWRS: Which Stock Should Value Investors Buy Now?
Carpenter Technology Corporation CRS will invest $100 million in soft magnetics capabilities and a new, precision strip hot rolling mill in its Reading, PA facility. This move will help meet increasing demand of aerospace, consumer electronics and electric vehicle manufacturing customers.
Carpenter Technology’s soft magnetic technology has enabled it to develop a strong growth platform in the Aerospace and Defense end-use market. Additionally, the company’s CarTech Hiperco family of soft magnetic alloys provide customers with enhanced electronic properties and significant design flexibility to improve performance.
The company has decided to make additional investments in its businesses after evaluating the market opportunities and benefits associated with the recently enacted Tax Cuts and Jobs Act. With this investment, Carpenter Technology will be able to drive long-term sustainable growth. Also, it will be able to provide good-paying jobs and increase value for shareholders in the near future.
In the last six months, the company shares have lost 9.7%, underperforming the industry’s 6.8% decline.
Carpenter Technology came up with a stellar show in the second quarter of fiscal 2018 on impressive segment performances. The company is seeing improvement across its end-use markets along with increased demand.
In the Aerospace and Defense end-use market, demand for new engine platform is increasing of late. The company is benefiting from its strong position across a range of attractive sub-markets. Moreover, the company is seeing high demand for its solutions portfolio in the medical end-use market and a recovery in the oil & gas sub-market.
Carpenter Technology Corporation Price and Consensus
Carpenter Technology Corporation Price and Consensus | Carpenter Technology Corporation Quote
Zacks Rank & Stocks to Consider
Carpenter Technology has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are LyondellBasell Industries N.V. LYB, Kronos Worldwide Inc. KRO and BASF SE BASFY.
LyondellBasell has an expected long-term earnings growth rate of 9% and sports a Zacks Rank #1 (Strong Buy). The company’s shares have moved up 14.6% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kronos has an expected long-term earnings growth rate of 5% and flaunts a Zacks Rank #1. Its shares have gained 39.4% over a year.
BASF has an expected long-term earnings growth rate of 6.7% and carries a Zacks Rank #2 (Buy). Its shares have moved up 2.3% in a year.
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BASF SE (BASFY) : Free Stock Analysis Report
Kronos Worldwide Inc (KRO) : Free Stock Analysis Report
LyondellBasell Industries N.V. (LYB) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
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