Crane Co. (CR) Given Average Rating of “Hold” by Brokerages
Shares of Crane Co. (NYSE:CR) have been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the company. Ten analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $61.30.
A number of research firms have recently issued reports on CR. Royal Bank Of Canada increased their price objective on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Zacks Investment Research cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Crane in a research report on Friday, August 5th. Bank of America Corp. raised shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Friday, July 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $60.00 price target on shares of Crane in a research report on Friday, June 17th.
In other news, VP A D. Pantaleoni sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total transaction of $313,700.00. Following the completion of the sale, the vice president now owns 9,876 shares in the company, valued at approximately $619,620.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Louis V. Pinkham sold 16,576 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $65.32, for a total transaction of $1,082,744.32. Following the sale, the insider now owns 20,449 shares of the company’s stock, valued at approximately $1,335,728.68. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
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Large investors have recently modified their holdings of the company. Krasney Financial LLC raised its stake in shares of Crane by 0.5% in the second quarter. Krasney Financial LLC now owns 4,674 shares of the company’s stock valued at $265,000 after buying an additional 21 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Crane by 0.7% in the second quarter. Capstone Asset Management Co. now owns 5,679 shares of the company’s stock valued at $322,000 after buying an additional 40 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of Crane by 0.7% in the second quarter. Sit Investment Associates Inc. now owns 27,225 shares of the company’s stock valued at $1,544,000 after buying an additional 200 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of Crane by 1.0% in the second quarter. State Treasurer State of Michigan now owns 19,932 shares of the company’s stock valued at $1,131,000 after buying an additional 200 shares during the last quarter. Finally, Broadview Advisors LLC raised its stake in shares of Crane by 0.5% in the second quarter. Broadview Advisors LLC now owns 43,200 shares of the company’s stock valued at $2,450,000 after buying an additional 200 shares during the last quarter. Institutional investors own 67.40% of the company’s stock.
Shares of Crane (NYSE:CR) traded down 0.70% during trading on Thursday, reaching $60.68. The company’s stock had a trading volume of 54,366 shares. The stock’s 50 day moving average price is $62.79 and its 200-day moving average price is $59.10. The firm has a market cap of $3.54 billion, a PE ratio of 14.59 and a beta of 1.37. Crane has a 12 month low of $41.68 and a 12 month high of $65.88.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.19. The company had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. Crane had a net margin of 9.01% and a return on equity of 21.25%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. Equities analysts predict that Crane will post ($0.17) EPS for the current year.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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