Crane (NYSE:CR) Given New $160.00 Price Target at DA Davidson

Crane (NYSE:CR) had its price target lifted by analysts at DA Davidson from $142.00 to $160.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. DA Davidson’s price target would indicate a potential upside of 11.12% from the company’s current price. DA Davidson also issued estimates for Crane’s Q2 2024 earnings at $1.23 EPS, FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

Other equities research analysts have also recently issued reports about the stock. Bank of America increased their price objective on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus increased their price objective on shares of Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.00.

Crane Trading Up 1.3 %

Shares of NYSE CR opened at $143.99 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 52-week low of $67.28 and a 52-week high of $145.80. The firm has a 50 day moving average price of $130.37 and a two-hundred day moving average price of $115.83. The stock has a market cap of $8.22 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $565.30 million during the quarter, compared to analysts’ expectations of $546.39 million. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Crane will post 7.87 EPS for the current year.

Institutional Investors Weigh In On Crane

Large investors have recently bought and sold shares of the stock. Ronald Blue Trust Inc. grew its holdings in Crane by 99.3% in the third quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 143 shares during the period. Fifth Third Bancorp lifted its stake in shares of Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after buying an additional 99 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Crane in the fourth quarter valued at $90,000. Jump Financial LLC bought a new position in shares of Crane in the third quarter valued at $201,000. Finally, Claret Asset Management Corp bought a new position in shares of Crane in the fourth quarter valued at $201,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Company Profile

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.