Crane Co. (CR) Rating Reiterated by Avondale Partners
Crane Co. (NYSE:CR)‘s stock had its “market perform” rating reissued by Avondale Partners in a report issued on Wednesday.
A number of other research firms have also recently issued reports on CR. Canaccord Genuity restated a “hold” rating and set a $60.00 target price on shares of Crane in a research note on Friday, June 17th. Alembic Global Advisors started coverage on shares of Crane in a research note on Monday, July 11th. They set a “neutral” rating and a $61.00 target price for the company. Zacks Investment Research cut shares of Crane from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Royal Bank Of Canada lifted their price objective on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Crane in a research note on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $62.00.
Crane (NYSE:CR) traded down 0.03% during mid-day trading on Wednesday, reaching $60.73. 35,662 shares of the company were exchanged. Crane has a 12-month low of $41.68 and a 12-month high of $65.88. The company’s 50 day moving average price is $62.68 and its 200-day moving average price is $59.11. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 14.60 and a beta of 1.37.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 25th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The company earned $712.20 million during the quarter, compared to the consensus estimate of $697.13 million. During the same quarter last year, the firm posted $1.06 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that Crane will post ($0.17) earnings per share for the current fiscal year.
In other Crane news, VP A D. Pantaleoni sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total transaction of $313,700.00. Following the sale, the vice president now directly owns 9,876 shares of the company’s stock, valued at approximately $619,620.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley Ellis sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $65.14, for a total transaction of $651,400.00. Following the sale, the insider now directly owns 167,711 shares in the company, valued at $10,924,694.54. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
A number of large investors have recently bought and sold shares of CR. Freestone Capital Holdings LLC raised its stake in Crane by 1,221.1% in the second quarter. Freestone Capital Holdings LLC now owns 335,531 shares of the company’s stock worth $19,031,000 after buying an additional 310,133 shares during the last quarter. Vanguard Group Inc. raised its stake in Crane by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,869,873 shares of the company’s stock worth $219,500,000 after buying an additional 265,637 shares during the last quarter. BlackRock Group LTD raised its stake in Crane by 113.5% in the first quarter. BlackRock Group LTD now owns 424,658 shares of the company’s stock worth $22,871,000 after buying an additional 225,790 shares during the last quarter. SG Americas Securities LLC raised its stake in Crane by 1,176.5% in the second quarter. SG Americas Securities LLC now owns 243,517 shares of the company’s stock worth $13,812,000 after buying an additional 224,440 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Crane during the second quarter worth $11,362,000. 67.40% of the stock is currently owned by hedge funds and other institutional investors.
Crane Company Profile
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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