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

Crane NXT (NYSE:CXT)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research note issued to investors on Monday, Benzinga reports. They presently have a $100.00 price objective on the stock. DA Davidson’s target price indicates a potential upside of 81.72% from the company’s previous close.

Crane NXT Stock Down 1.9 %

Shares of NYSE CXT opened at $55.03 on Monday. Crane NXT has a 52-week low of $48.42 and a 52-week high of $64.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The company’s 50 day moving average price is $57.86 and its 200-day moving average price is $59.74. The company has a market capitalization of $3.14 billion, a P/E ratio of 17.36 and a beta of 1.33.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The business had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Crane NXT will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On Crane NXT

A number of institutional investors have recently modified their holdings of CXT. Congress Wealth Management LLC DE acquired a new position in Crane NXT during the first quarter worth $5,633,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Crane NXT during the 4th quarter worth approximately $3,526,000. Congress Asset Management Co. MA raised its stake in shares of Crane NXT by 3,331.1% in the first quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after purchasing an additional 578,043 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Crane NXT in the fourth quarter valued at approximately $66,550,000. Finally, SG Americas Securities LLC purchased a new position in shares of Crane NXT during the second quarter valued at approximately $748,000. 77.49% of the stock is owned by institutional investors and hedge funds.

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.