Crane NXT (NYSE:CXT) Raised to Hold at Zacks Research

by · The Markets Daily

Crane NXT (NYSE:CXT – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on CXT. Oppenheimer lifted their target price on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, January 21st. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Robert W. Baird reduced their target price on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Crane NXT currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.80.

Read Our Latest Research Report on Crane NXT

Crane NXT Trading Up 0.7%

CXT traded up $0.37 during trading on Tuesday, reaching $52.88. The company had a trading volume of 513,168 shares, compared to its average volume of 515,457. The firm’s 50-day simple moving average is $51.18 and its 200 day simple moving average is $57.90. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 19.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.26. Crane NXT has a 12-month low of $41.54 and a 12-month high of $69.00.

Crane NXT (NYSE:CXT – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The company had revenue of $445.10 million for the quarter, compared to the consensus estimate of $431.38 million. During the same period in the previous year, the business earned $1.16 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Crane NXT will post 4.16 earnings per share for the current year.

Institutional Trading of Crane NXT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Crane NXT by 21,056.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 137,938 shares of the company’s stock valued at $6,493,000 after buying an additional 137,286 shares during the period. Isthmus Partners LLC boosted its holdings in Crane NXT by 1.7% during the fourth quarter. Isthmus Partners LLC now owns 59,918 shares of the company’s stock valued at $2,820,000 after purchasing an additional 1,015 shares in the last quarter. Madison Asset Management LLC raised its holdings in shares of Crane NXT by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 45,289 shares of the company’s stock worth $2,132,000 after buying an additional 290 shares in the last quarter. Ethic Inc. boosted its stake in Crane NXT by 7.4% in the 4th quarter. Ethic Inc. now owns 9,145 shares of the company’s stock valued at $430,000 after buying an additional 627 shares in the last quarter. Finally, Truist Financial Corp grew its position in Crane NXT by 2.0% in the fourth quarter. Truist Financial Corp now owns 58,110 shares of the company’s stock valued at $2,735,000 after acquiring an additional 1,140 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Company Profile

(Get Free Report)

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.

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