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.

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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.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Crane (NYSE:CR)

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