Carpenter Technology Stock Market Value

CRS Stock  USD 80.40  0.11  0.14%   
Carpenter Technology's market value is the price at which a share of Carpenter Technology trades on a public exchange. It measures the collective expectations of Carpenter Technology investors about its performance. Carpenter Technology is selling for under 80.40 as of the 24th of April 2024; that is -0.14 percent decrease since the beginning of the trading day. The stock's lowest day price was 78.2.
With this module, you can estimate the performance of a buy and hold strategy of Carpenter Technology and determine expected loss or profit from investing in Carpenter Technology over a given investment horizon. Check out Carpenter Technology Correlation, Carpenter Technology Volatility and Carpenter Technology Alpha and Beta module to complement your research on Carpenter Technology.
For more information on how to buy Carpenter Stock please use our How to Invest in Carpenter Technology guide.
Symbol

Carpenter Technology Price To Book Ratio

Is Carpenter Technology's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Carpenter Technology. If investors know Carpenter will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Carpenter Technology listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
5.8
Dividend Share
0.8
Earnings Share
2.89
Revenue Per Share
55.43
Quarterly Revenue Growth
0.078
The market value of Carpenter Technology is measured differently than its book value, which is the value of Carpenter that is recorded on the company's balance sheet. Investors also form their own opinion of Carpenter Technology's value that differs from its market value or its book value, called intrinsic value, which is Carpenter Technology's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Carpenter Technology's market value can be influenced by many factors that don't directly affect Carpenter Technology's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Carpenter Technology's value and its price as these two are different measures arrived at by different means. Investors typically determine if Carpenter Technology is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Carpenter Technology's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Carpenter Technology 'What if' Analysis

In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Carpenter Technology's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Carpenter Technology.
0.00
03/25/2024
No Change 0.00  0.0 
In 31 days
04/24/2024
0.00
If you would invest  0.00  in Carpenter Technology on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Carpenter Technology or generate 0.0% return on investment in Carpenter Technology over 30 days. Carpenter Technology is related to or competes with Insteel Industries, Mayville Engineering, Gulf Island, ESAB Corp, Northwest Pipe, Ryerson Holding, and Mueller Industries. Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the Un... More

Carpenter Technology Upside/Downside Indicators

Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Carpenter Technology's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Carpenter Technology upside and downside potential and time the market with a certain degree of confidence.

Carpenter Technology Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Carpenter Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Carpenter Technology's standard deviation. In reality, there are many statistical measures that can use Carpenter Technology historical prices to predict the future Carpenter Technology's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Carpenter Technology's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
77.6779.8081.93
Details
Intrinsic
Valuation
LowRealHigh
76.5978.7280.85
Details
Naive
Forecast
LowNextHigh
75.0777.2179.34
Details
4 Analysts
Consensus
LowTargetHigh
75.2382.6791.76
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Carpenter Technology. Your research has to be compared to or analyzed against Carpenter Technology's peers to derive any actionable benefits. When done correctly, Carpenter Technology's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Carpenter Technology.

Carpenter Technology Backtested Returns

Carpenter Technology appears to be very steady, given 3 months investment horizon. Carpenter Technology secures Sharpe Ratio (or Efficiency) of 0.21, which signifies that the company had a 0.21% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Carpenter Technology, which you can use to evaluate the volatility of the firm. Please makes use of Carpenter Technology's Downside Deviation of 2.19, risk adjusted performance of 0.0914, and Mean Deviation of 1.8 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Carpenter Technology holds a performance score of 16. The firm shows a Beta (market volatility) of 0.38, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Carpenter Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Carpenter Technology is expected to be smaller as well. Please check Carpenter Technology's expected short fall, and the relationship between the maximum drawdown and rate of daily change , to make a quick decision on whether Carpenter Technology's price patterns will revert.

Auto-correlation

    
  0.51  

Modest predictability

Carpenter Technology has modest predictability. Overlapping area represents the amount of predictability between Carpenter Technology time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Carpenter Technology price movement. The serial correlation of 0.51 indicates that about 51.0% of current Carpenter Technology price fluctuation can be explain by its past prices.
Correlation Coefficient0.51
Spearman Rank Test0.52
Residual Average0.0
Price Variance2.06

Carpenter Technology lagged returns against current returns

Autocorrelation, which is Carpenter Technology stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Carpenter Technology's stock expected returns. We can calculate the autocorrelation of Carpenter Technology returns to help us make a trade decision. For example, suppose you find that Carpenter Technology has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
   Current and Lagged Values   
       Timeline  

Carpenter Technology regressed lagged prices vs. current prices

Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Carpenter Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Carpenter Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Carpenter Technology stock over time.
   Current vs Lagged Prices   
       Timeline  

Carpenter Technology Lagged Returns

When evaluating Carpenter Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Carpenter Technology stock have on its future price. Carpenter Technology autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Carpenter Technology autocorrelation shows the relationship between Carpenter Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Carpenter Technology.
   Regressed Prices   
       Timeline  

Pair Trading with Carpenter Technology

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Carpenter Technology position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Carpenter Technology will appreciate offsetting losses from the drop in the long position's value.

Moving together with Carpenter Stock

  0.84TG TredegarPairCorr
  0.74WS Worthington SteelPairCorr
  0.83ESAB ESAB Corp Earnings Call This WeekPairCorr
  0.73ATI Allegheny Technologies Earnings Call This WeekPairCorr

Moving against Carpenter Stock

  0.86AZ A2Z Smart TechnologiesPairCorr
  0.84BA Boeing Financial Report 24th of July 2024 PairCorr
  0.83SGBX SG BlocksPairCorr
  0.78PRLB Proto Labs Financial Report 3rd of May 2024 PairCorr
  0.76AP Ampco PittsburghPairCorr
The ability to find closely correlated positions to Carpenter Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Carpenter Technology when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Carpenter Technology - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Carpenter Technology to buy it.
The correlation of Carpenter Technology is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carpenter Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carpenter Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Carpenter Technology can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Carpenter Technology is a strong investment it is important to analyze Carpenter Technology's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Carpenter Technology's future performance. For an informed investment choice regarding Carpenter Stock, refer to the following important reports:
Check out Carpenter Technology Correlation, Carpenter Technology Volatility and Carpenter Technology Alpha and Beta module to complement your research on Carpenter Technology.
For more information on how to buy Carpenter Stock please use our How to Invest in Carpenter Technology guide.
You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.

Complementary Tools for Carpenter Stock analysis

When running Carpenter Technology's price analysis, check to measure Carpenter Technology's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Carpenter Technology is operating at the current time. Most of Carpenter Technology's value examination focuses on studying past and present price action to predict the probability of Carpenter Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Carpenter Technology's price. Additionally, you may evaluate how the addition of Carpenter Technology to your portfolios can decrease your overall portfolio volatility.
Economic Indicators
Top statistical indicators that provide insights into how an economy is performing
Analyst Advice
Analyst recommendations and target price estimates broken down by several categories
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges
Portfolio Anywhere
Track or share privately all of your investments from the convenience of any device
Content Syndication
Quickly integrate customizable finance content to your own investment portal
Piotroski F Score
Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals
Transaction History
View history of all your transactions and understand their impact on performance
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets
Sectors
List of equity sectors categorizing publicly traded companies based on their primary business activities
Carpenter Technology technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Carpenter Technology technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Carpenter Technology trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...