Crane’s (CR) “Buy” Rating Reiterated at AltaCorp Capital
Crane (NYSE:CR)‘s stock had its “buy” rating reiterated by stock analysts at AltaCorp Capital in a research note issued on Monday.
Several other equities research analysts have also weighed in on CR. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $95.00 target price on shares of Crane in a research note on Tuesday, December 5th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $99.00 price target (up previously from $87.00) on shares of Crane in a research report on Tuesday. Finally, Bank of America raised their price objective on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $95.83.
Crane (CR) opened at $92.30 on Monday. Crane has a one year low of $67.62 and a one year high of $93.59. The firm has a market cap of $5,476.81, a PE ratio of 41.39, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54.
In other news, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction that occurred 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 of the company’s stock, valued at approximately $171,838.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total value of $960,296.40. Following the sale, the vice president now directly owns 84,116 shares in the company, valued at approximately $7,257,528.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,403 shares of company stock worth $1,896,288. Company insiders own 3.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC grew its holdings in shares of Crane by 33.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crane by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 140 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Crane by 88.5% during the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after purchasing an additional 1,057 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in shares of Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 800 shares in the last quarter. Finally, Fruth Investment Management acquired a new stake in shares of Crane during the 4th quarter worth approximately $205,000. 68.30% of the stock is currently owned by institutional investors.
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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.
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