Crane’s (CR) Buy Rating Reiterated at AltaCorp Capital
Crane (NYSE:CR)‘s stock had its “buy” rating restated by equities researchers at AltaCorp Capital in a research report issued to clients and investors on Monday.
Other research analysts have also recently issued reports about the stock. Canaccord Genuity restated a “buy” rating on shares of Crane in a research report on Friday, November 3rd. Seaport Global Securities upgraded shares of Crane from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Bank of America upped their target price on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Oppenheimer reaffirmed a “buy” rating and issued a $92.00 target price (up previously from $88.00) on shares of Crane in a research note on Wednesday, October 25th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Crane in a research note on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $95.83.
Crane (CR) traded up $0.70 during mid-day trading on Monday, hitting $92.28. 153,100 shares of the company traded hands, compared to its average volume of 255,511. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. The company has a market capitalization of $5,560.00, a PE ratio of 41.20, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. Crane has a one year low of $67.62 and a one year high of $92.71.
In other news, VP Augustus I. Dupont sold 11,130 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP A D. Pantaleoni sold 4,650 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $83.11, for a total value of $386,461.50. Following the sale, the vice president now directly owns 1,076 shares of the company’s stock, valued at approximately $89,426.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in CR. Acrospire Investment Management LLC boosted 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 purchasing an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 acquiring an additional 140 shares in the last quarter. Howe & Rusling Inc. raised its holdings 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 acquiring an additional 1,057 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in shares of Crane by 54.2% during the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares in the last quarter. Finally, Fruth Investment Management bought a new position in shares of Crane during the fourth quarter valued at approximately $205,000. 68.30% of the stock is owned by hedge funds and other 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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