Crane Co. (CR) Given Average Rating of “Hold” by Brokerages
Crane Co. (NYSE:CR) has been assigned an average rating of “Hold” from the fifteen analysts that are covering the firm. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $61.30.
A number of equities research analysts recently weighed in on the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $63.00 price target (up from $57.00) on shares of Crane in a report on Wednesday, July 27th. Royal Bank Of Canada raised their price target on Crane from $57.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, July 27th. Zacks Investment Research raised Crane from a “sell” rating to a “hold” rating and set a $69.00 price target for the company in a report on Wednesday, July 27th. Alembic Global Advisors assumed coverage on Crane in a report on Monday, July 11th. They set a “neutral” rating and a $61.00 price target for the company. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Crane in a report on Friday, August 5th.
Shares of Crane (NYSE:CR) traded down 0.70% during midday trading on Thursday, hitting $60.68. The stock had a trading volume of 54,366 shares. Crane has a one year low of $41.68 and a one year high of $65.88. The firm has a market capitalization of $3.54 billion, a PE ratio of 14.59 and a beta of 1.37. The firm’s 50-day moving average price is $62.79 and its 200-day moving average price is $59.10.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.19. Crane had a return on equity of 21.25% and a net margin of 9.01%. The firm earned $712.20 million during the quarter, compared to analysts’ expectations of $697.13 million. During the same period last year, the firm posted $1.06 EPS. The business’s revenue was up .1% on a year-over-year basis. On average, equities analysts predict that Crane will post ($0.17) EPS for the current year.
In other Crane news, insider Thomas J. Craney sold 3,915 shares of Crane stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $64.54, for a total transaction of $252,674.10. Following the transaction, the insider now directly owns 20,062 shares in the company, valued at $1,294,801.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director E Thayer Bigelow sold 4,000 shares of Crane stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $64.96, for a total value of $259,840.00. Following the transaction, the director now owns 21,791 shares in the company, valued at $1,415,543.36. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Crane by 2.5% in the first quarter. State Street Corp now owns 1,229,273 shares of the company’s stock valued at $66,209,000 after buying an additional 29,426 shares in the last quarter. Principal Financial Group Inc. raised its position in Crane by 7.4% in the second quarter. Principal Financial Group Inc. now owns 507,745 shares of the company’s stock valued at $28,799,000 after buying an additional 34,825 shares in the last quarter. Renaissance Technologies LLC raised its position in Crane by 61.6% in the first quarter. Renaissance Technologies LLC now owns 352,400 shares of the company’s stock valued at $18,980,000 after buying an additional 134,300 shares in the last quarter. LSV Asset Management raised its position in Crane by 58.5% in the second quarter. LSV Asset Management now owns 406,488 shares of the company’s stock valued at $23,055,000 after buying an additional 150,040 shares in the last quarter. Finally, Robecosam AG raised its position in Crane by 16.1% in the first quarter. Robecosam AG now owns 153,319 shares of the company’s stock valued at $8,321,000 after buying an additional 21,291 shares in the last quarter. Hedge funds and other institutional investors own 67.40% of the company’s stock.
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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