Brokerages Set Crane NXT, Co. (NYSE:CXT) Price Target at $71.60

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

Several analysts have recently weighed in on CXT shares. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. UBS Group set a $58.00 price target on Crane NXT in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Robert W. Baird set a $73.00 price objective on Crane NXT in a research note on Friday, February 13th. Finally, Northland Securities set a $62.00 price objective on Crane NXT in a report on Wednesday, February 18th.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $42.24 on Monday. Crane NXT has a 12 month low of $41.54 and a 12 month high of $69.00. The firm has a market capitalization of $2.43 billion, a P/E ratio of 16.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20. The company’s fifty day moving average price is $50.33 and its 200 day moving average price is $56.06.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The company had revenue of $476.90 million during the quarter, compared to the consensus estimate of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. Crane NXT’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. As a group, sell-side analysts predict that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Saturday, February 28th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, February 27th. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio (DPR) is currently 28.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC increased its stake in Crane NXT by 102.3% in the fourth quarter. Corient Private Wealth LLC now owns 20,632 shares of the company’s stock valued at $971,000 after purchasing an additional 10,435 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Crane NXT by 4,458.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company’s stock worth $26,000 after buying an additional 535 shares during the period. MidFirst Bank purchased a new position in shares of Crane NXT during the fourth quarter worth about $169,000. Invesco Ltd. grew its holdings in shares of Crane NXT by 1.1% during the fourth quarter. Invesco Ltd. now owns 1,381,816 shares of the company’s stock worth $65,042,000 after buying an additional 15,516 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Crane NXT in the 4th quarter valued at about $3,408,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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.