KeyBanc downgrades Carpenter Technology amid softer second‑quarter guidance
KeyBanc lowered its rating on Carpenter Technology to Sector Weight from Overweight after the company issued weaker guidance for the second quarter of fiscal 2027. The downgrade came as the stock fell 24.75% over the week, near its 52‑week low. Carpenter reported first‑quarter EPS of $3.25 but revenue of $798.5 million, missing forecasts. The firm kept its full‑year free‑cash‑flow target of $400 million‑$430 million.
Why it matters
The downgrade and the stock’s sharp decline signal near‑term earnings pressure, which may affect investors’ valuation models. Susquehanna reduced its price target to $450 from $600, reflecting the revised outlook.
Key facts
- 1KeyBanc changed its rating on Carpenter Technology to Sector Weight from Overweight. investing.com
- 2Carpenter Technology’s stock fell 24.75% over the past week, trading near its 52‑week low of $278.17. investing.com
- 3First‑quarter diluted earnings were $3.25 per share, above the $3.04 estimate. investing.com
- 4First‑quarter revenue was $798.5 million, below the $830.85 million forecast. investing.com
- 5The company maintained its full‑year free cash flow target of $400 million to $430 million. investing.com
- 6Susquehanna adjusted its price target for the stock to $450 from $600. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.