Crane NXT’s (CXT) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Crane NXT (NYSE:CXT) in a report published on Tuesday morning,Benzinga reports. DA Davidson currently has a $85.00 target price on the stock.

A number of other equities research analysts have also commented on the company. Robert W. Baird set a $73.00 price target on Crane NXT in a research report on Friday, February 13th. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. Finally, UBS Group set a $58.00 price objective on shares of Crane NXT in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.60.

Crane NXT Stock Performance

Crane NXT stock opened at $52.54 on Tuesday. The business has a 50 day moving average of $50.46 and a 200-day moving average of $57.49. The company has a market capitalization of $3.02 billion, a P/E ratio of 20.93 and a beta of 1.18. Crane NXT has a 1 year low of $41.54 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $476.90 million for the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. On average, equities research analysts predict that Crane NXT will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, February 27th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio (DPR) is currently 27.09%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Crane NXT by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,005,746 shares of the company’s stock worth $402,805,000 after acquiring an additional 64,523 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Crane NXT by 2,449.9% during the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after purchasing an additional 1,701,361 shares during the period. Capital International Investors boosted its position in shares of Crane NXT by 0.3% during the 3rd quarter. Capital International Investors now owns 1,722,708 shares of the company’s stock worth $115,542,000 after purchasing an additional 5,984 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Crane NXT by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,943 shares of the company’s stock valued at $80,773,000 after buying an additional 93,144 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Crane NXT by 1.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,661,619 shares of the company’s stock valued at $78,212,000 after buying an additional 25,849 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Company Profile

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.