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

Crane (NYSE:CR) had its price objective lifted by research analysts at DA Davidson from $142.00 to $160.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. DA Davidson’s target price would suggest a potential upside of 13.14% from the company’s current price.

Several other research analysts have also recently issued reports on the company. StockNews.com cut Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Stifel Nicolaus raised their price objective on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Bank of America boosted their price target on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.00.

Crane Trading Up 2.4 %

NYSE:CR traded up $3.31 during midday trading on Wednesday, hitting $141.42. 270,572 shares of the company traded hands, compared to its average volume of 240,164. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average is $130.01 and its 200-day moving average is $115.65. Crane has a 12-month low of $67.28 and a 12-month high of $143.67. The firm has a market capitalization of $8.07 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. During the same quarter in the prior year, the company earned $1.25 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that Crane will post 7.87 EPS for the current year.

Hedge Funds Weigh In On Crane

Several hedge funds have recently bought and sold shares of CR. Envestnet Asset Management Inc. raised its position in Crane by 143.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 116,920 shares of the conglomerate’s stock valued at $10,387,000 after purchasing an additional 68,795 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Crane in the 3rd quarter valued at approximately $679,000. Louisiana State Employees Retirement System purchased a new position in shares of Crane in the 4th quarter valued at approximately $1,619,000. JS Capital Management LLC grew its stake in shares of Crane by 98.0% in the 3rd quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate’s stock valued at $35,536,000 after purchasing an additional 198,000 shares during the last quarter. Finally, Financial Enhancement Group LLC lifted its holdings in shares of Crane by 20.4% in the 4th quarter. Financial Enhancement Group LLC now owns 11,785 shares of the conglomerate’s stock valued at $1,344,000 after buying an additional 1,993 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

About Crane

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.