Crane Company (CR) Upgraded to “Buy” by ValuEngine
Crane Company (NYSE:CR) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other brokerages have also recently issued reports on CR. BidaskClub cut Crane from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Wolfe Research assumed coverage on Crane in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Canaccord Genuity raised Crane from a “hold” rating to a “buy” rating and boosted their target price for the company from $78.00 to $92.00 in a research report on Tuesday, May 16th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $85.00 target price on shares of Crane in a research report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $76.88.
Shares of Crane (NYSE CR) traded up 1.62% on Friday, reaching $73.36. 365,302 shares of the company’s stock were exchanged. Crane has a one year low of $59.81 and a one year high of $84.34. The company has a 50 day moving average price of $75.07 and a 200 day moving average price of $76.72. The firm has a market cap of $4.37 billion, a PE ratio of 33.42 and a beta of 1.11.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. The business had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Analysts expect that Crane will post $4.47 EPS for the current fiscal year.
In other Crane news, Director E Thayer Bigelow sold 6,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $73.73, for a total value of $442,380.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Edward S. Switter sold 7,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now directly owns 23,873 shares in the company, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. Insiders sold a total of 22,200 shares of company stock worth $1,661,630 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CR. Bank of Montreal Can grew its position in Crane by 2.8% in the 1st quarter. Bank of Montreal Can now owns 5,024 shares of the conglomerate’s stock valued at $376,000 after acquiring an additional 135 shares during the last quarter. Profund Advisors LLC grew its position in Crane by 0.6% in the 1st quarter. Profund Advisors LLC now owns 6,861 shares of the conglomerate’s stock valued at $513,000 after acquiring an additional 43 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Crane by 1.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the conglomerate’s stock valued at $1,291,000 after acquiring an additional 200 shares during the last quarter. Wells Fargo & Company MN grew its position in Crane by 2.8% in the 1st quarter. Wells Fargo & Company MN now owns 111,525 shares of the conglomerate’s stock valued at $8,345,000 after acquiring an additional 2,988 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Crane by 287.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 90,300 shares of the conglomerate’s stock valued at $6,757,000 after acquiring an additional 67,000 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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