Crane (NYSE:CR) Earns “Buy” Rating from DA Davidson

by · The Markets Daily

Crane (NYSE:CR – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a report released on Tuesday,Benzinga reports. They currently have a $200.00 target price on the conglomerate’s stock. DA Davidson’s price objective indicates a potential upside of 30.97% from the stock’s previous close.

Several other analysts also recently weighed in on CR. Stifel Nicolaus lowered their target price on shares of Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a report on Friday, January 24th. UBS Group upped their price objective on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Finally, StockNews.com cut Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average price target of $174.80.

Read Our Latest Research Report on Crane

Crane Stock Performance

Shares of CR traded down $0.79 during midday trading on Tuesday, reaching $152.71. 31,998 shares of the stock were exchanged, compared to its average volume of 228,460. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.93 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a twelve month low of $127.82 and a twelve month high of $188.52. The business’s 50-day moving average price is $161.86 and its 200 day moving average price is $161.77.

Crane (NYSE:CR – Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the transaction, the vice president now directly owns 32,963 shares of the company’s stock, valued at $5,635,354.48. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Crane

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Crane in the fourth quarter valued at about $144,961,000. Alliancebernstein L.P. grew its stake in shares of Crane by 619.4% in the fourth quarter. Alliancebernstein L.P. now owns 499,656 shares of the conglomerate’s stock valued at $75,823,000 after buying an additional 430,201 shares in the last quarter. Capital World Investors raised its holdings in shares of Crane by 16.9% during the 4th quarter. Capital World Investors now owns 2,455,854 shares of the conglomerate’s stock valued at $372,676,000 after buying an additional 355,765 shares during the period. Wealthfront Advisers LLC acquired a new position in Crane during the 4th quarter worth approximately $45,127,000. Finally, Select Equity Group L.P. raised its stake in shares of Crane by 25.2% during the fourth quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate’s stock valued at $114,445,000 after purchasing an additional 151,717 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About Crane

(Get Free Report)

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.

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