Crane (NYSE:CR) PT Raised to $160.00

Crane (NYSE:CR) had its price objective raised by research analysts at DA Davidson from $142.00 to $160.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. DA Davidson’s price target would indicate a potential upside of 13.14% from the stock’s previous close.

Several other research firms have also commented on CR. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America increased their price objective on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. StockNews.com downgraded Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Stifel Nicolaus raised their price objective on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.00.

Crane Stock Performance

Crane stock traded up $3.31 during mid-day trading on Wednesday, hitting $141.42. The company had a trading volume of 270,572 shares, compared to its average volume of 240,164. Crane has a 12-month low of $67.28 and a 12-month high of $143.67. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $130.01 and its 200-day moving average is $115.65.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. During the same quarter last year, the firm posted $1.25 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts predict that Crane will post 7.87 EPS for the current year.

Hedge Funds Weigh In On Crane

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock valued at $578,282,000 after purchasing an additional 16,167 shares in the last quarter. Capital World Investors grew its position in Crane by 4.0% during the 4th quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock worth $247,567,000 after acquiring an additional 79,710 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in Crane by 0.5% during the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock worth $156,282,000 after buying an additional 6,605 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Crane by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock valued at $87,690,000 after purchasing an additional 37,388 shares during the period. Finally, Capital International Investors lifted its stake in shares of Crane by 44.7% in the 4th quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock valued at $78,353,000 after purchasing an additional 204,924 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.