Stifel Nicolaus reiterated their hold rating on shares of Crane (NYSE:CR) in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $99.00 target price on the conglomerate’s stock, up from their prior target price of $87.00.
A number of other analysts have also recently issued reports on the stock. Bank of America lifted their target price on shares of Crane from $90.00 to $104.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Vertical Research upgraded shares of Crane from a hold rating to a buy rating in a research note on Wednesday, December 6th. Canaccord Genuity reiterated a buy rating on shares of Crane in a research note on Friday, November 3rd. Oppenheimer reiterated a buy rating on shares of Crane in a research note on Tuesday, December 5th. Finally, Scotiabank reiterated a buy rating on shares of Crane in a research note on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Crane presently has an average rating of Buy and an average target price of $95.83.
Shares of Crane (CR) traded up $0.58 on Tuesday, reaching $93.13. 331,241 shares of the company were exchanged, compared to its average volume of 255,077. Crane has a 52-week low of $67.62 and a 52-week high of $93.59. The stock has a market capitalization of $5,550.00, a P/E ratio of 41.58, a PEG ratio of 1.81 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The firm had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. equities analysts predict that Crane will post 4.53 earnings per share for the current year.
In other news, VP Augustus I. Dupont sold 11,130 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the completion of the sale, the vice president now directly owns 84,116 shares in the company, valued at $7,257,528.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director E Thayer Bigelow sold 1,067 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $82.79, for a total transaction of $88,336.93. 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 90 days. 3.10% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Crane in the fourth quarter worth $267,000. Schwab Charles Investment Management Inc. raised its stake in Crane by 8.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 415,209 shares of the conglomerate’s stock valued at $37,045,000 after purchasing an additional 32,914 shares during the last quarter. Bank of Montreal Can raised its stake in Crane by 97.7% during the 4th quarter. Bank of Montreal Can now owns 119,002 shares of the conglomerate’s stock valued at $10,616,000 after purchasing an additional 58,796 shares during the last quarter. Fruth Investment Management acquired a new position in Crane during the 4th quarter valued at $205,000. Finally, AXA raised its stake in Crane by 3.6% during the 3rd quarter. AXA now owns 113,700 shares of the conglomerate’s stock valued at $9,095,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.
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Crane Company Profile
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.
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