Crane (NYSE:CR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports. The firm currently has a $50.00 price target on the conglomerate’s stock. Zacks Investment Research‘s target price would suggest a potential downside of 16.14% from the stock’s previous close.

According to Zacks, “In the past six months, Crane’s shares have underperformed the industry. It is wary of the adverse impacts of the pandemic on its performances. For 2020, the company now predicts adjusted earnings of $3.00-$4.25 per share, suggesting a decline of 40% from that reported in 2019. Net sales are expected to decline 10-16% from the 2019 level, with core sales likely to be down 17-22% year over year. Adjusted earnings in the second quarter will likely be 40-50 cents, suggesting a decline from $1.15 generated in the first quarter of the year. Also, sales are predicted to be $650-$660 million in the second quarter, sequentially below $797.9 million in first-quarter 2020. In addition, high debts and related financial obligations as well as forex woes (with 0.5-1% adverse impacts on sales in 2020) might affect the company's profitability.”

Other research analysts also recently issued reports about the stock. Cfra reduced their price objective on shares of Crane from $89.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Canaccord Genuity raised shares of Crane from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $66.00 in a research report on Tuesday, June 16th. ValuEngine downgraded shares of Crane from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. Stifel Nicolaus reduced their price objective on shares of Crane from $105.00 to $71.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, DA Davidson reduced their price objective on shares of Crane from $103.00 to $75.00 in a research report on Tuesday, March 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Crane has a consensus rating of “Hold” and an average target price of $72.29.

Shares of NYSE CR traded up $0.81 during mid-day trading on Tuesday, hitting $59.62. The stock had a trading volume of 6,358 shares, compared to its average volume of 493,729. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.37. Crane has a 1 year low of $36.77 and a 1 year high of $91.23. The business has a 50 day moving average price of $55.35 and a two-hundred day moving average price of $66.76. The firm has a market cap of $3.27 billion, a P/E ratio of 32.25 and a beta of 1.51.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, April 27th. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.11). The company had revenue of $797.90 million for the quarter, compared to analysts’ expectations of $820.58 million. Crane had a net margin of 3.50% and a return on equity of 22.07%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. Equities research analysts predict that Crane will post 3.75 EPS for the current fiscal year.

In other Crane news, CEO Max H. Mitchell bought 1,500 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $46.27 per share, for a total transaction of $69,405.00. Following the acquisition, the chief executive officer now owns 229,363 shares in the company, valued at approximately $10,612,626.01. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Crane by 5.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,803 shares of the conglomerate’s stock worth $242,000 after purchasing an additional 152 shares in the last quarter. Schafer Cullen Capital Management Inc raised its position in Crane by 4.6% in the 1st quarter. Schafer Cullen Capital Management Inc now owns 4,510 shares of the conglomerate’s stock worth $222,000 after buying an additional 200 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in Crane by 0.6% in the 1st quarter. Virginia Retirement Systems ET AL now owns 33,000 shares of the conglomerate’s stock worth $1,623,000 after buying an additional 200 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Crane in the 4th quarter worth about $5,705,000. Finally, Advisor Group Inc. raised its position in Crane by 28.5% in the 4th quarter. Advisor Group Inc. now owns 1,293 shares of the conglomerate’s stock worth $112,000 after buying an additional 287 shares during the last quarter. Institutional investors own 67.47% of the company’s stock.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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