Crane (NYSE:CR)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a research note issued on Monday. They presently have a $110.00 price objective on the conglomerate’s stock. Canaccord Genuity’s target price points to a potential upside of 14.71% from the company’s current price.
The analysts wrote, “We recently spent a day on the road with Crane management. While the company’s message remains consistent with the outlook provided at the recent investor day, we are confident in the potential upside from the Crane Currency acquisition, and believe the expected mid-teens EPS growth through 2021 will be a positive catalyst for the stock. Crane remains vulnerable to broader economic factors, but there appears to be little near-term risk associated with the steel and aluminum tariffs, based on what we know about the implementation, and the macro assumptions embedded in the 2018 guidance appear conservative. We like the Crane Currency acquisition, and believe that as management delivers on the earnings contribution from the acquisition (as well as the repositioning), we will see a steady improvement in investor sentiment. Much of the focus was on the timing of the Crane Currency integration.””
Several other research analysts also recently weighed in on the stock. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Bank of America lifted their target price on shares of Crane from $104.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Oppenheimer reissued a “buy” rating on shares of Crane in a research report on Tuesday, December 5th. Finally, AltaCorp Capital reissued a “buy” rating on shares of Crane in a research report on Monday, January 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $106.29.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.01. The company had revenue of $714.20 million for the quarter, compared to analysts’ expectations of $702.50 million. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. equities research analysts forecast that Crane will post 5.52 earnings per share for the current fiscal year.
In related news, VP James A. Lavish sold 12,984 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $94.90, for a total transaction of $1,232,181.60. Following the completion of the sale, the vice president now directly owns 16,997 shares in the company, valued at $1,613,015.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the sale, the vice president now owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,861 shares of company stock valued at $4,476,647. 3.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CR. Virtus Fund Advisers LLC acquired a new stake in Crane in the fourth quarter valued at approximately $29,286,000. Victory Capital Management Inc. lifted its stake in Crane by 31.9% in the fourth quarter. Victory Capital Management Inc. now owns 874,707 shares of the conglomerate’s stock valued at $78,041,000 after acquiring an additional 211,710 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in Crane by 439.7% in the fourth quarter. Thrivent Financial For Lutherans now owns 220,104 shares of the conglomerate’s stock valued at $19,638,000 after acquiring an additional 179,324 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Crane by 153.0% in the fourth quarter. Wells Fargo & Company MN now owns 293,143 shares of the conglomerate’s stock valued at $26,154,000 after acquiring an additional 177,275 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Crane by 456.2% in the fourth quarter. Alliancebernstein L.P. now owns 162,943 shares of the conglomerate’s stock valued at $14,538,000 after acquiring an additional 133,649 shares during the last quarter. Hedge funds and other institutional investors own 69.36% of the company’s stock.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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