Crane (NYSE:CR) PT Raised to $160.00 at DA Davidson

Crane (NYSE:CR) had its price target lifted by analysts at DA Davidson from $142.00 to $160.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. DA Davidson’s price target indicates a potential upside of 11.12% from the stock’s previous close. DA Davidson also issued estimates for Crane’s Q2 2024 earnings at $1.23 EPS, FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

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

Crane Stock Up 1.3 %

Shares of CR opened at $143.99 on Wednesday. The company has a 50-day simple moving average of $130.37 and a 200-day simple moving average of $115.83. The firm has a market capitalization of $8.22 billion, a P/E ratio of 38.60, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 52 week low of $67.28 and a 52 week high of $145.80.

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

Institutional Trading of Crane

Several hedge funds have recently modified their holdings of CR. Fifth Third Bancorp grew its holdings in Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 99 shares during the period. SummerHaven Investment Management LLC grew its holdings in Crane by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock worth $936,000 after acquiring an additional 99 shares during the period. Janney Capital Management LLC grew its holdings in Crane by 3.2% during the 4th quarter. Janney Capital Management LLC now owns 3,560 shares of the conglomerate’s stock worth $421,000 after acquiring an additional 110 shares during the period. Financial Enhancement Group LLC grew its holdings in Crane by 1.1% during the 1st quarter. Financial Enhancement Group LLC now owns 11,920 shares of the conglomerate’s stock worth $1,607,000 after acquiring an additional 135 shares during the period. Finally, Ronald Blue Trust Inc. grew its holdings in Crane by 99.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 143 shares during the period. 75.14% of the stock is owned by institutional investors.

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.