Crane NXT (NYSE:CXT) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Crane NXT (NYSE:CXT) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

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

Crane NXT Stock Up 2.2%

NYSE:CXT opened at $52.53 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.94. The firm’s 50-day moving average price is $51.18 and its 200-day moving average price is $57.90. The company has a market capitalization of $3.02 billion, a PE ratio of 19.60 and a beta of 1.18. Crane NXT has a 1-year low of $41.54 and a 1-year high of $69.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $445.10 million during the quarter, compared to analysts’ expectations of $431.38 million. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. Crane NXT’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. On average, equities analysts predict that Crane NXT will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Crane NXT

Several hedge funds and other institutional investors have recently bought and sold shares of CXT. AlphaQuest LLC purchased a new position in shares of Crane NXT during the second quarter valued at approximately $25,000. Smartleaf Asset Management LLC grew its position in Crane NXT by 141.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 228 shares during the period. Camelot Portfolios LLC bought a new stake in Crane NXT in the 4th quarter worth approximately $25,000. Quent Capital LLC purchased a new stake in Crane NXT during the 3rd quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Crane NXT during the 3rd quarter valued at $31,000. Institutional investors own 77.49% of the company’s stock.

About Crane NXT

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.