1. Carpenter Technology Corp (NYSE:CRS)
Number of Hedge Fund Holders: 70
Carpenter Technology Corp (NYSE:CRS) is among the best 3D printing stocks to buy according to hedge funds. On March 2, Susquehanna initiated coverage on Carpenter Technology Corp (NYSE:CRS) stock with a Positive rating and a price target of $470.
Carpenter Technology is a leading supplier of highly-specialized alloys used in aerospace and defense industries, so Susquehanna sees bright prospects for this company amid increasing demand for next-gen metallurgy for warfighters. Moreover, Susquehanna sees Carpenter Technology as well-positioned to benefit from increasing commercial airplane builds rates and high maintenance, repair, and operations activity. The firm also noted that Carpenter Technology has a massive backlog and robust new order activity.
Susquehanna projects that Carpenter Technology can grow EBITDA at 18% CAGR and free cash flow at 25% CAGR between 2025 and 2028. It sees this growth coming from strong execution, better pricing, and capacity expansion. Furthermore, Susquehanna believes Carpenter Technology can easily fund its growth while continuing the share repurchase program and boosting dividends.
Carpenter Technology exited the December quarter with $730.8 million in total liquidity. This consisted of $231.9 million of cash and $498.9 million of available credit facilities.
Carpenter Technology is set for executive changes in the coming months. The company announced on February 17 that its current CEO Tony Thene will step down from the role and transition to the executive chairman role. Brian Malloy, the company’s current chief operating officer, will step up to the CEO role. These changes will go into effect on July 1.
Carpenter Technology Corp (NYSE:CRS) is a leading global provider of high-performance specialty alloy-based materials as well as process solutions. It also offers 3D printing solutions. The company serves industries such as aerospace, defense, medical, and energy. Carpenter Technology is based in Philadelphia.
While we acknowledge the potential of Carpenter Technology Corp (NYSE:CRS) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRS and that has 100x upside potential, check out our report about the cheapest AI stock.
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