Crane Co. (CR) Given Consensus Rating of “Buy” by Brokerages
Crane Co. (NYSE:CR) has been given a consensus rating of “Buy” by the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $107.00.
A number of research firms have weighed in on CR. ValuEngine upgraded Crane from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Thursday, May 17th. Finally, UBS Group upgraded Crane from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, July 30th.
In related news, insider Brendan Curran sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $89.78, for a total value of $269,340.00. Following the completion of the sale, the insider now owns 14,346 shares in the company, valued at $1,287,983.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Curtis A. Baron, Jr. sold 5,199 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $90.87, for a total transaction of $472,433.13. Following the completion of the sale, the vice president now owns 7,230 shares of the company’s stock, valued at approximately $656,990.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,531 shares of company stock valued at $7,477,261. 3.00% of the stock is owned by insiders.
Shares of NYSE CR traded up $1.76 during mid-day trading on Friday, hitting $95.00. The company had a trading volume of 7,648 shares, compared to its average volume of 218,894. The stock has a market cap of $5.56 billion, a P/E ratio of 20.89, a PEG ratio of 1.69 and a beta of 1.28. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65. Crane has a 1-year low of $74.52 and a 1-year high of $102.65.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, July 23rd. The conglomerate reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.06. Crane had a return on equity of 21.72% and a net margin of 6.17%. The company had revenue of $851.00 million for the quarter, compared to analysts’ expectations of $834.45 million. During the same period last year, the firm earned $1.17 earnings per share. Crane’s quarterly revenue was up 21.1% on a year-over-year basis. equities analysts forecast that Crane will post 5.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 31st were given a $0.35 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.47%. Crane’s payout ratio is currently 30.91%.
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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