DA Davidson Reaffirms “Buy” Rating for Crane NXT (NYSE:CXT)

Crane NXT (NYSE:CXT)‘s stock had its “buy” rating restated by equities researchers at DA Davidson in a report released on Tuesday,Benzinga reports. They presently have a $85.00 target price on the stock. DA Davidson’s target price would indicate a potential upside of 60.61% from the company’s previous close.

A number of other equities research analysts have also issued reports on CXT. UBS Group set a $58.00 target price on Crane NXT in a research report on Friday, February 13th. Robert W. Baird set a $73.00 price target on shares of Crane NXT in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research upgraded shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Crane NXT currently has a consensus rating of “Moderate Buy” and an average target price of $71.60.

Crane NXT Trading Down 0.6%

Shares of NYSE:CXT opened at $52.92 on Tuesday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 21.08 and a beta of 1.18. Crane NXT has a 12 month low of $41.54 and a 12 month high of $69.00. The company’s fifty day simple moving average is $50.49 and its 200 day simple moving average is $57.52. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 0.80.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The firm had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. During the same period in the prior year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that Crane NXT will post 4.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Crane NXT

A number of institutional investors and hedge funds have recently modified their holdings of the company. AlphaQuest LLC bought a new stake in Crane NXT in the second quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its stake in shares of Crane NXT by 141.6% during the 3rd 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 period. Camelot Portfolios LLC bought a new stake in Crane NXT in the 4th quarter valued at $25,000. Quent Capital LLC acquired a new stake in Crane NXT during the 3rd quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Crane NXT during the third quarter worth $31,000. 77.49% of the stock is owned by institutional investors.

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.