Crane NXT (NYSE:CXT) Given Buy Rating at DA Davidson

Crane NXT (NYSE:CXT)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They currently have a $85.00 price objective on the stock. DA Davidson’s price objective indicates a potential upside of 59.79% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird set a $73.00 price target on shares of Crane NXT in a report on Friday. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, January 21st. CJS Securities upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, UBS Group set a $58.00 target price on Crane NXT in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Crane NXT presently has a consensus rating of “Moderate Buy” and an average target price of $73.60.

Crane NXT Stock Up 0.8%

Shares of Crane NXT stock traded up $0.44 during midday trading on Tuesday, hitting $53.20. The company had a trading volume of 517,088 shares, compared to its average volume of 644,464. Crane NXT has a 52-week low of $41.54 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 stock has a market capitalization of $3.05 billion, a P/E ratio of 21.19 and a beta of 1.18. The company has a 50 day moving average of $50.65 and a 200 day moving average of $57.58.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 11th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. The business had revenue of $476.90 million for the quarter, compared to the consensus estimate of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. On average, equities analysts predict that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crane NXT

Hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. increased its holdings in Crane NXT by 2,449.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after acquiring an additional 1,701,361 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of Crane NXT by 632.9% in the fourth quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company’s stock worth $73,983,000 after purchasing an additional 1,357,312 shares during the last quarter. Norges Bank purchased a new stake in shares of Crane NXT in the fourth quarter worth about $30,057,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Crane NXT in the third quarter worth about $35,309,000. Finally, Southernsun Asset Management LLC bought a new position in Crane NXT during the second quarter valued at approximately $17,264,000. 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.