Crane NXT’s (CXT) Buy Rating Reaffirmed at DA Davidson

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

Separately, UBS Group cut their target price on shares of Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

Crane NXT Stock Up 1.1%

Shares of CXT opened at $60.31 on Monday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 23.02 and a beta of 1.33. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. Crane NXT has a 12 month low of $41.54 and a 12 month high of $67.00. The company has a 50-day moving average price of $57.24 and a two-hundred day moving average price of $54.23.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The company had revenue of $404.40 million during the quarter, compared to analysts’ expectations of $382.79 million. Equities analysts predict that Crane NXT will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 29th. Crane NXT’s payout ratio is 25.95%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG raised its position in Crane NXT by 3.0% in the 4th quarter. Deutsche Bank AG now owns 5,831 shares of the company’s stock worth $339,000 after purchasing an additional 168 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Crane NXT by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 50,304 shares of the company’s stock worth $2,711,000 after purchasing an additional 190 shares during the last quarter. FourThought Financial Partners LLC raised its position in Crane NXT by 4.6% in the 1st quarter. FourThought Financial Partners LLC now owns 4,909 shares of the company’s stock worth $252,000 after purchasing an additional 216 shares during the last quarter. Kirr Marbach & Co. LLC IN raised its position in Crane NXT by 0.3% in the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 97,159 shares of the company’s stock worth $5,237,000 after purchasing an additional 246 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after purchasing an additional 256 shares during the last quarter. Institutional investors 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.