Stifel Nicolaus Boosts Crane (CR) Price Target to $99.00
Crane (NYSE:CR) had its price target hoisted by equities research analysts at Stifel Nicolaus from $87.00 to $99.00 in a research note issued on Tuesday. The firm presently has a “hold” rating on the conglomerate’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 7.28% from the stock’s current price.
A number of other analysts also recently commented on CR. Canaccord Genuity restated a “buy” rating and set a $95.00 price objective on shares of Crane in a report on Tuesday, December 5th. Oppenheimer restated a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Seaport Global Securities upgraded 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 report on Thursday, October 26th. Bank of America upped their price objective on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Monday, October 2nd. Six equities 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 an average target price of $95.83.
Crane (NYSE:CR) opened at $92.28 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $5,476.81, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. Crane has a twelve month low of $67.62 and a twelve month high of $92.71.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. Crane’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 EPS. equities research analysts anticipate that Crane will post 4.53 earnings per share for the current fiscal year.
In related news, VP Augustus I. Dupont sold 11,130 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were 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 directly owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP A D. Pantaleoni sold 4,650 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $83.11, for a total transaction of $386,461.50. Following the sale, the vice president now directly owns 1,076 shares of the company’s stock, valued at $89,426.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its position in 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Crane by 8.5% in the 2nd 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 last quarter. Howe & Rusling Inc. boosted its position in Crane by 88.5% in the 3rd 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 last quarter. ClariVest Asset Management LLC boosted its position in Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after buying an additional 800 shares during the last quarter. Finally, Fruth Investment Management purchased a new position in Crane in the 4th quarter valued at about $205,000. 68.30% of the stock is owned by hedge funds and other institutional investors.
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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