Crane’s (CR) “Buy” Rating Reiterated at Oppenheimer

Crane (NYSE:CR)‘s stock had its “buy” rating reaffirmed by Oppenheimer in a report released on Tuesday.

A number of other equities analysts also recently weighed in on CR. Wolfe Research raised shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research note on Monday, October 2nd. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday. BidaskClub downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Monday, October 2nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Crane presently has an average rating of “Buy” and a consensus target price of $93.83.

Crane (CR) traded down $1.36 during midday trading on Tuesday, hitting $82.54. 239,900 shares of the stock were exchanged, compared to its average volume of 315,428. Crane has a 1-year low of $67.62 and a 1-year high of $86.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. The firm has a market capitalization of $4,979.46, a P/E ratio of 19.20, a PEG ratio of 1.84 and a beta of 1.17.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The business had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. During the same period in the prior year, the business posted $1.07 earnings per share. Crane’s revenue for the quarter was up .2% compared to the same quarter last year. analysts anticipate that Crane will post 4.53 EPS for the current fiscal year.

In related news, Director E Thayer Bigelow sold 1,067 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $82.79, for a total value of $88,336.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James L. L Tullis sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the completion of the sale, the director now owns 2,110 shares of the company’s stock, valued at $171,838.40. The disclosure for this sale can be found here. Insiders sold 22,403 shares of company stock valued at $1,896,288 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado boosted its holdings in Crane by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 9,932 shares of the conglomerate’s stock valued at $788,000 after acquiring an additional 27 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Crane by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,382 shares of the conglomerate’s stock valued at $586,000 after acquiring an additional 38 shares during the period. Teacher Retirement System of Texas boosted its holdings in Crane by 2.1% during the second quarter. Teacher Retirement System of Texas now owns 3,795 shares of the conglomerate’s stock valued at $301,000 after acquiring an additional 78 shares during the period. M&T Bank Corp boosted its holdings in Crane by 1.9% during the second quarter. M&T Bank Corp now owns 4,989 shares of the conglomerate’s stock valued at $395,000 after acquiring an additional 91 shares during the period. Finally, World Asset Management Inc boosted its holdings in Crane by 3.0% during the second quarter. World Asset Management Inc now owns 3,185 shares of the conglomerate’s stock valued at $253,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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About Crane

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

Analyst Recommendations for Crane (NYSE:CR)

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