Crane Co. (CR) Rating Reiterated by Avondale Partners
Crane Co. (NYSE:CR)‘s stock had its “market perform” rating restated by equities researchers at Avondale Partners in a report released on Wednesday.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Monday, October 3rd. Credit Suisse Group AG restated a “hold” rating on shares of Crane in a report on Friday, August 5th. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 target price on the stock in a report on Friday, July 29th. RBC Capital Markets restated a “sector perform” rating and issued a $63.00 target price (up previously from $57.00) on shares of Crane in a report on Wednesday, July 27th. Finally, Royal Bank Of Canada raised their target price on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Crane presently has a consensus rating of “Hold” and a consensus target price of $62.00.
Crane (NYSE:CR) traded down 0.03% on Wednesday, hitting $60.73. 35,662 shares of the company were exchanged. Crane has a 52 week low of $41.68 and a 52 week high of $65.88. The stock has a 50 day moving average of $62.68 and a 200 day moving average of $59.11. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 14.60 and a beta of 1.37.
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Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The business had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. During the same period last year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Crane will post ($0.17) EPS for the current fiscal year.
In other Crane news, VP A D. Pantaleoni sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $62.74, for a total transaction of $313,700.00. Following the completion of the transaction, the vice president now owns 9,876 shares of the company’s stock, valued at $619,620.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip R. Lochner sold 4,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $64.90, for a total value of $259,600.00. Following the transaction, the director now directly owns 2,350 shares of the company’s stock, valued at approximately $152,515. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CR. LS Investment Advisors LLC raised its position in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock valued at $173,000 after buying an additional 1,305 shares in the last quarter. Parametrica Management Ltd bought a new position in Crane during the third quarter valued at about $211,000. Citigroup Inc. raised its position in Crane by 32.9% in the second quarter. Citigroup Inc. now owns 3,469 shares of the company’s stock valued at $197,000 after buying an additional 859 shares in the last quarter. Synovus Financial Corp raised its position in Crane by 46.1% in the second quarter. Synovus Financial Corp now owns 3,485 shares of the company’s stock valued at $198,000 after buying an additional 1,100 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new position in Crane during the second quarter valued at about $210,000. 67.40% of the stock is owned by institutional investors and hedge funds.
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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