AltaCorp Capital Reiterates “Buy” Rating for Crane (CR)
Crane (NYSE:CR)‘s stock had its “buy” rating reaffirmed by research analysts at AltaCorp Capital in a research note issued to investors on Monday.
Several other equities research analysts have also recently issued reports on CR. Royal Bank of Canada restated a “hold” rating on shares of Crane in a research report on Monday, September 25th. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Monday, October 2nd. Boenning Scattergood restated a “hold” rating on shares of Crane in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and set a $84.00 price objective on shares of Crane in a research report on Wednesday, October 4th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Crane in a research note on Tuesday, October 10th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $95.83.
Crane (CR) traded up $0.02 during trading on Monday, reaching $92.30. 194,412 shares of the company traded hands, compared to its average volume of 249,400. Crane has a 52-week low of $67.62 and a 52-week high of $93.59. The firm has a market capitalization of $5,560.00, a PE ratio of 41.21, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
In other news, Director James L. L. Tullis sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the transaction, the director now owns 2,110 shares of the company’s stock, valued at $171,838.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director E Thayer Bigelow sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $82.79, for a total transaction of $88,336.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Crane by 97.7% in the fourth quarter. Bank of Montreal Can now owns 119,002 shares of the conglomerate’s stock valued at $10,616,000 after purchasing an additional 58,796 shares during the period. Fruth Investment Management purchased a new position in shares of Crane in the fourth quarter valued at approximately $205,000. AXA boosted its stake in shares of Crane by 3.6% in the third quarter. AXA now owns 113,700 shares of the conglomerate’s stock valued at $9,095,000 after purchasing an additional 4,000 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Crane by 30.7% in the third quarter. Public Employees Retirement System of Ohio now owns 104,969 shares of the conglomerate’s stock valued at $8,396,000 after purchasing an additional 24,646 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Crane by 3.4% in the third quarter. California Public Employees Retirement System now owns 135,312 shares of the conglomerate’s stock valued at $10,824,000 after purchasing an additional 4,412 shares during the period. 68.30% of the stock is owned by institutional investors and hedge funds.
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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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