Crane Company (CR) Given Average Recommendation of “Buy” by Analysts
Crane Company (NYSE:CR) has earned an average rating of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $74.43.
CR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Monday, July 17th. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Wolfe Research initiated coverage on Crane in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Stifel Nicolaus reissued a “hold” rating and set a $85.00 target price on shares of Crane in a report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Crane in a report on Monday, September 25th.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the transaction, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 $1,767,318.19. The disclosure for this sale can be found here. Insiders have sold a total of 22,200 shares of company stock worth $1,661,630 over the last three months. 3.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Crane by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after buying an additional 95,817 shares in the last quarter. BlackRock Inc. grew its holdings in Crane by 2.0% in the 2nd quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after buying an additional 80,055 shares in the last quarter. State Street Corp grew its holdings in Crane by 2.1% in the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after buying an additional 26,771 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Crane by 115.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after buying an additional 682,934 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Crane by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock valued at $51,002,000 after buying an additional 11,670 shares in the last quarter. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
Crane (NYSE CR) opened at 82.05 on Wednesday. The firm’s 50-day moving average price is $77.47 and its 200 day moving average price is $77.70. Crane has a one year low of $59.81 and a one year high of $84.34. The firm has a market cap of $4.89 billion, a P/E ratio of 37.38 and a beta of 1.12.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.17. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Crane will post $4.48 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Crane Company (CR) Given Average Recommendation of “Buy” by Analysts” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/18/crane-company-cr-given-average-recommendation-of-buy-by-analysts.html.
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.
Receive News & Ratings for Crane Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Company and related companies with MarketBeat.com's FREE daily email newsletter.