Crane NXT, Co. (NYSE:CXT) Receives Average Rating of “Moderate Buy” from Brokerages

Crane NXT, Co. (NYSE:CXT) has received an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $75.80.

Several research analysts have commented on CXT shares. CJS Securities raised Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird dropped their target price on Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. DA Davidson reissued a “buy” rating and set a $85.00 price target on shares of Crane NXT in a research report on Tuesday, September 23rd. Oppenheimer increased their price objective on shares of Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, October 8th.

Institutional Trading of Crane NXT

Several large investors have recently modified their holdings of CXT. Smartleaf Asset Management LLC increased its position in shares of Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Quent Capital LLC acquired a new stake in Crane NXT during the 3rd quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Crane NXT during the 3rd quarter worth approximately $31,000. AlphaQuest LLC purchased a new stake in Crane NXT during the 2nd quarter worth approximately $25,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Crane NXT in the 3rd quarter valued at approximately $33,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Price Performance

CXT opened at $48.03 on Wednesday. Crane NXT has a 52-week low of $41.54 and a 52-week high of $69.00. The company has a 50 day moving average of $58.61 and a two-hundred day moving average of $59.22. The company has a market cap of $2.76 billion, a P/E ratio of 17.92 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 0.69.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The business had revenue of $871.50 million for the quarter. On average, analysts expect that Crane NXT will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were issued a $0.17 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Crane NXT’s payout ratio is currently 25.37%.

Crane NXT Company Profile

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.