This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

10 Steel Stocks With Upside

Stock quotes in this article: CRS, ATI, NUE, USAP, X, STLD, MUSA

10. Carpenter Technology (CRS) engages in the manufacture, fabrication and distribution of specialty metals with its operations structured into two main reportable segments: Advanced Metals and Premium Alloys. The company provides material solutions to the aerospace, industrial, energy, medical, consumer products and automotive industries.

For the third quarter of 2011, the company recorded net income of $28.6 million or 64 cents per share, compared to $2.1 million or 5 cents per share in the year-ago period. Meanwhile, net sales for the same period soared 37.8% to $464.2 million with sales for Premium Alloys and Advanced Materials increasing 47% and 13%, respectively. Currently, CRS has a dividend yield of 1.69%.

For the upcoming fourth quarter and full year 2011, the company estimates to achieve its earlier growth and earnings targets. On the forecast of higher demand in the upcoming months, the company will expand downstream capacity further and expects to incur capital spending of $150 to $200 million for fiscal 2012.

Early May 2011, the company announced a significant expansion project at its Reading, Pa. facility. The expansion will allow for the installation of two additional Electroslag Remelting Furnaces (ESR) and increase capacity for Forge Finishing and Annealing operations.

Of the 10 analysts covering the stock, 50% recommend a buy while 40% rate a hold on it. Analysts polled by Bloomberg envisage an average 12-month price target of $54.50 -- about 6.8% higher than the stock's current price.



2 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs