Crane (NYSE:CR) Price Target Raised to $125.00 at DA Davidson

Crane (NYSE:CR) had its target price boosted by DA Davidson from $115.00 to $125.00 in a report published on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the conglomerate’s stock. The analysts noted that the move was a valuation call.

CR has been the subject of a number of other research reports. Zacks Investment Research cut Crane from a buy rating to a hold rating and set a $99.00 price objective for the company. in a report on Tuesday, September 28th. Bank of America initiated coverage on Crane in a report on Wednesday, September 8th. They set a buy rating and a $123.00 price objective for the company. Finally, BMO Capital Markets upgraded Crane to an outperform rating in a report on Monday, September 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $104.00.

NYSE CR opened at $101.50 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 1.60 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $96.51 and its two-hundred day moving average price is $94.89. Crane has a 1 year low of $49.05 and a 1 year high of $106.12. The firm has a market capitalization of $5.95 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.70.

Crane (NYSE:CR) last posted its earnings results on Sunday, October 24th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.53. The company had revenue of $833.50 million during the quarter, compared to analysts’ expectations of $770.61 million. Crane had a net margin of 11.33% and a return on equity of 20.48%. Crane’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. On average, research analysts anticipate that Crane will post 6.13 EPS for the current fiscal year.

In other Crane news, SVP Kurt F. Gallo sold 454 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $99.00, for a total transaction of $44,946.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kurt F. Gallo sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $98.01, for a total transaction of $490,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,000 shares of company stock valued at $1,297,468. 3.00% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in CR. FMR LLC grew its stake in shares of Crane by 31.3% in the first quarter. FMR LLC now owns 175,010 shares of the conglomerate’s stock worth $14,809,000 after purchasing an additional 41,673 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Crane by 40.3% in the first quarter. First Trust Advisors LP now owns 10,240 shares of the conglomerate’s stock worth $867,000 after purchasing an additional 2,942 shares during the last quarter. Geode Capital Management LLC boosted its position in Crane by 2.0% during the first quarter. Geode Capital Management LLC now owns 616,482 shares of the conglomerate’s stock valued at $57,893,000 after acquiring an additional 12,083 shares during the last quarter. Northern Trust Corp boosted its position in Crane by 8.2% during the first quarter. Northern Trust Corp now owns 484,187 shares of the conglomerate’s stock valued at $45,470,000 after acquiring an additional 36,790 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Crane by 26.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,011 shares of the conglomerate’s stock valued at $189,000 after acquiring an additional 426 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Crane Company Profile

Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.

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