Crane NXT (NYSE:CXT) Rating Lowered to “Strong Sell” at Zacks Research

Crane NXT (NYSE:CXT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Tuesday, September 23rd. Robert W. Baird lowered their price target on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. CJS Securities raised Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. Oppenheimer lifted their price target on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.80.

Crane NXT Stock Down 2.2%

NYSE:CXT traded down $1.09 during trading hours on Monday, hitting $48.80. 7,011 shares of the company traded hands, compared to its average volume of 476,307. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.80 billion, a PE ratio of 18.24 and a beta of 1.18. The firm’s 50-day simple moving average is $54.94 and its 200-day simple moving average is $58.71. Crane NXT has a one year low of $41.54 and a one year high of $69.00.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The company had revenue of $871.50 million during the quarter. Equities analysts predict that Crane NXT will post 4.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Crane NXT in the 3rd quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Crane NXT during the third quarter valued at approximately $31,000. AlphaQuest LLC bought a new position in shares of Crane NXT during the second quarter valued at approximately $25,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Crane NXT in the third quarter worth $33,000. Institutional investors own 77.49% of the company’s stock.

About Crane NXT

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.