Crane’s (CR) Buy Rating Reaffirmed at Scotiabank
A number of other equities research analysts have also commented on CR. Zacks Investment Research lowered Crane from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Wolfe Research raised Crane from a market perform rating to an outperform rating in a research report on Monday, August 14th. Boenning Scattergood reaffirmed a hold rating on shares of Crane in a research report on Monday, October 2nd. BidaskClub raised Crane from a hold rating to a buy rating in a research report on Saturday, July 8th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $84.00 price target on shares of Crane in a research report on Wednesday, October 4th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $76.38.
Crane (CR) opened at 81.64 on Tuesday. The company has a 50-day moving average price of $77.36 and a 200-day moving average price of $77.65. The stock has a market cap of $4.87 billion, a PE ratio of 37.19 and a beta of 1.12. Crane has a 52 week low of $59.81 and a 52 week high of $84.34.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.17. The company had revenue of $702.50 million for the quarter, compared to analyst estimates of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. Crane’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. Analysts anticipate that Crane will post $4.48 earnings per share for the current year.
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In other Crane news, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now directly owns 23,873 shares in the company, valued at $1,767,318.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,200 shares of company stock valued at $1,661,630. 3.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Cookson Peirce & Co. Inc. grew its stake in Crane by 23.0% in the second quarter. Cookson Peirce & Co. Inc. now owns 24,940 shares of the conglomerate’s stock valued at $1,980,000 after purchasing an additional 4,670 shares in the last quarter. Robecosam AG grew its stake in Crane by 112.3% in the second quarter. Robecosam AG now owns 182,063 shares of the conglomerate’s stock valued at $14,305,000 after purchasing an additional 96,322 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Crane by 2.1% in the second quarter. Ameritas Investment Partners Inc. now owns 15,136 shares of the conglomerate’s stock valued at $1,201,000 after purchasing an additional 316 shares in the last quarter. Nomura Holdings Inc. bought a new position in Crane in the second quarter valued at approximately $248,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Crane by 6.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,893 shares of the conglomerate’s stock valued at $1,103,000 after purchasing an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 69.42% of the company’s stock.
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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