Crane’s (CR) “Buy” Rating Reiterated at Canaccord Genuity
Crane (NYSE:CR)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a research note issued on Tuesday. They presently have a $95.00 price target on the conglomerate’s stock. Canaccord Genuity’s price objective indicates a potential upside of 15.10% from the company’s current price.
Several other equities analysts have also issued reports on CR. Oppenheimer reaffirmed a “buy” rating on shares of Crane in a report on Tuesday. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Seaport Global Securities raised Crane from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $95.00 in a report on Thursday, October 26th. Bank of America upped their target price on Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Wolfe Research lowered Crane from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.83.
Crane (NYSE:CR) traded down $1.36 during mid-day trading on Tuesday, reaching $82.54. The company had a trading volume of 239,900 shares, compared to its average volume of 315,428. Crane has a fifty-two week low of $67.62 and a fifty-two week high of $86.67. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54. The firm has a market cap of $4,979.46, a P/E ratio of 19.20, a P/E/G ratio of 1.84 and a beta of 1.17.
In other Crane news, Director James L. L. Tullis sold 2,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the sale, the director now owns 2,110 shares in the company, valued at $171,838.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP A D. Pantaleoni sold 4,650 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $83.11, for a total value of $386,461.50. Following the sale, the vice president now owns 1,076 shares in the company, valued at approximately $89,426.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,403 shares of company stock worth $1,896,288. Company insiders own 3.10% of the company’s stock.
Several large investors have recently bought and sold shares of CR. Aperio Group LLC raised its position in shares of Crane by 29.5% in the second quarter. Aperio Group LLC now owns 17,180 shares of the conglomerate’s stock worth $1,364,000 after buying an additional 3,911 shares in the last quarter. US Bancorp DE increased its stake in Crane by 1.5% in the second quarter. US Bancorp DE now owns 9,473 shares of the conglomerate’s stock valued at $752,000 after acquiring an additional 140 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Crane by 61.3% in the second quarter. Russell Investments Group Ltd. now owns 75,420 shares of the conglomerate’s stock valued at $5,988,000 after acquiring an additional 28,654 shares during the last quarter. Acadian Asset Management LLC increased its stake in Crane by 1,116.2% in the second quarter. Acadian Asset Management LLC now owns 6,288 shares of the conglomerate’s stock valued at $499,000 after acquiring an additional 5,771 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Crane by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,932 shares of the conglomerate’s stock valued at $788,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
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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.
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