Crane NXT (NYSE:CXT) Downgraded by Zacks Research to Strong Sell

Crane NXT (NYSE:CXT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also issued reports on CXT. DA Davidson reissued a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a report on Tuesday, September 23rd. Oppenheimer increased their target price on shares of Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. CJS Securities raised Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, October 8th. Finally, Robert W. Baird reduced their price objective on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.80.

Crane NXT Stock Up 1.7%

NYSE CXT opened at $49.87 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 18.61 and a beta of 1.18. Crane NXT has a 1-year low of $41.54 and a 1-year high of $69.00. The stock’s 50 day moving average is $54.94 and its two-hundred day moving average is $58.71.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, June 1st. The company reported $1.81 earnings per share (EPS) for the quarter. The company had revenue of $871.50 million during the quarter. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. Equities analysts forecast that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of Crane NXT

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Crane NXT by 141.6% in the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Quent Capital LLC purchased a new position in Crane NXT during the 3rd quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Crane NXT in the third quarter worth about $31,000. AlphaQuest LLC bought a new stake in Crane NXT during the second quarter worth about $25,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Crane NXT during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Company Profile

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.