Crane NXT, Co. (NYSE:CXT) Receives $73.75 Average Target Price from Brokerages

Crane NXT, Co. (NYSE:CXT) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $73.75.

Separately, DA Davidson restated a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a research note on Monday.

Hedge Funds Weigh In On Crane NXT

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp increased its stake in shares of Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock valued at $42,000 after purchasing an additional 256 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Crane NXT by 5,320.8% in the 1st quarter. GAMMA Investing LLC now owns 133,948 shares of the company’s stock worth $6,885,000 after buying an additional 131,477 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Crane NXT by 46.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company’s stock worth $381,000 after buying an additional 2,074 shares during the last quarter. UMB Bank n.a. boosted its holdings in Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after buying an additional 327 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Crane NXT by 18.9% in the 1st quarter. LPL Financial LLC now owns 60,611 shares of the company’s stock worth $3,115,000 after buying an additional 9,617 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

NYSE CXT opened at $56.83 on Monday. The stock has a 50-day simple moving average of $59.51 and a two-hundred day simple moving average of $54.44. The firm has a market capitalization of $3.26 billion, a P/E ratio of 21.69 and a beta of 1.37. Crane NXT has a fifty-two week low of $41.54 and a fifty-two week high of $67.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The firm had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. On average, equities analysts forecast that Crane NXT will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Crane NXT’s payout ratio is currently 25.95%.

About Crane NXT

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.