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CRS - Carpenter Technology Now In The Teeth Of The Downturn
Carpenter Technology Corporation
Unlike short-cycle industrials, where the Street freaked out in March and then bid the stocks back up to about 90% of where they started the year (or even above, in the case of a few names like Rockwell (ROK)), companies with primary exposure to the aerospace industry have been knocked down and largely stayed down, with Carpenter Technology (CRS) shares down more than 50% year-to-date and basically flat since my last update on the company.
I wasn't bullish on Carpenter then, as I thought it was too soon to play the