Crane NXT, Co. (NYSE:CXT) Receives $71.60 Consensus PT from Analysts

Crane NXT, Co. (NYSE:CXT) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $71.60.

A number of brokerages have issued reports on CXT. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Northland Securities set a $62.00 price objective on shares of Crane NXT in a research note on Wednesday, February 18th. Robert W. Baird set a $73.00 price objective on shares of Crane NXT in a research note on Friday, February 13th. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Tuesday, February 17th.

Crane NXT Trading Up 0.2%

Crane NXT stock opened at $41.47 on Friday. The company has a 50 day moving average price of $47.21 and a 200 day moving average price of $53.86. Crane NXT has a 52 week low of $39.23 and a 52 week high of $69.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 1.50. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 16.52 and a beta of 1.21.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Research analysts forecast that Crane NXT will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Saturday, February 28th were issued a $0.18 dividend. This is a boost from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 27th. This represents a $0.72 annualized dividend and a yield of 1.7%. Crane NXT’s payout ratio is 28.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in Crane NXT by 141.6% in 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 period. Camelot Portfolios LLC bought a new stake in Crane NXT in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its stake in Crane NXT by 4,458.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company’s stock valued at $26,000 after acquiring an additional 535 shares during the period. Quent Capital LLC bought a new stake in Crane NXT in the third quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Crane NXT in the third quarter valued at about $31,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Company Profile

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.