Crane Company (CR) PT Raised to $87.00
Crane Company (NYSE:CR) had its target price lifted by analysts at Stifel Nicolaus from $85.00 to $87.00 in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the conglomerate’s stock. Stifel Nicolaus’ price target indicates a potential upside of 1.40% from the company’s current price.
CR has been the topic of a number of other reports. Boenning Scattergood reissued a “hold” rating on shares of Crane in a report on Tuesday. Scotiabank reissued a “buy” rating on shares of Crane in a report on Tuesday, October 10th. Royal Bank Of Canada reissued a “hold” rating on shares of Crane in a report on Monday, September 25th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Monday, October 2nd. Finally, BidaskClub raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $76.75.
Shares of Crane (NYSE:CR) opened at 85.80 on Wednesday. The firm has a 50-day moving average of $79.11 and a 200-day moving average of $78.15. The company has a market capitalization of $5.11 billion, a P/E ratio of 39.09 and a beta of 1.12. Crane has a one year low of $65.88 and a one year high of $86.50.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million for the quarter, compared to analysts’ expectations of $679.77 million. Crane had a return on equity of 21.34% and a net margin of 4.96%. Crane’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.07 EPS. Equities research analysts expect that Crane will post $4.49 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Crane Company (CR) PT Raised to $87.00” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/25/crane-company-cr-pt-raised-to-87-00.html.
In other news, VP Edward S. Switter sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total transaction of $518,210.00. Following the transaction, the vice president now directly owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kristian Robert Salovaara sold 9,200 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were 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 in the company, valued at $1,888,693.20. The disclosure for this sale can be found here. Insiders sold a total of 22,200 shares of company stock worth $1,661,630 over the last ninety days. Insiders own 3.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in shares of Crane by 33.3% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Crane by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after buying an additional 140 shares during the period. Global X Management Co. LLC increased its stake in shares of Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after buying an additional 1,282 shares during the period. Howe & Rusling Inc. increased its stake in shares of Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after buying an additional 1,057 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Crane during the second quarter valued at approximately $204,000. 69.44% of the stock is currently owned by hedge funds and other institutional investors.
Crane Company Profile
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.