Investment analysts at DA Davidson started coverage on shares of Crane (NYSE:CR) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $108.00 price target on the conglomerate’s stock. DA Davidson’s price objective suggests a potential upside of 16.42% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 target price on shares of Crane in a research note on Monday, March 12th. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Friday, March 2nd. Boenning Scattergood reiterated a “neutral” rating on shares of Crane in a research note on Monday, February 26th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Bank of America upped their target price on shares of Crane from $104.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Crane currently has an average rating of “Buy” and a consensus target price of $106.50.
Shares of CR stock opened at $92.77 on Wednesday. Crane has a 52 week low of $70.56 and a 52 week high of $102.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.40 and a current ratio of 1.81. The company has a market cap of $5,682.39, a PE ratio of 32.67, a P/E/G ratio of 1.32 and a beta of 1.23.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, January 29th. The conglomerate reported $1.18 EPS for the quarter, topping the consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business had revenue of $714.20 million for the quarter, compared to analyst estimates of $702.50 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Crane’s quarterly revenue was up 4.8% on a year-over-year basis. analysts expect that Crane will post 5.52 EPS for the current fiscal year.
In other news, Director E Thayer Bigelow sold 1,125 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.74, for a total transaction of $106,582.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Augustus I. Dupont sold 16,396 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the transaction, the vice president now directly owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The disclosure for this sale can be found here. Insiders have sold 46,861 shares of company stock valued at $4,476,647 over the last three months. 3.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Crane by 87.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,969 shares of the conglomerate’s stock valued at $621,000 after purchasing an additional 3,244 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Crane during the fourth quarter valued at approximately $2,848,000. Macquarie Group Ltd. raised its holdings in shares of Crane by 33.5% during the fourth quarter. Macquarie Group Ltd. now owns 11,210 shares of the conglomerate’s stock valued at $1,000,000 after purchasing an additional 2,810 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Crane by 79.2% during the fourth quarter. Vident Investment Advisory LLC now owns 4,684 shares of the conglomerate’s stock valued at $418,000 after purchasing an additional 2,070 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Crane during the fourth quarter valued at approximately $375,000. 69.35% 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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