Analysts Set Crane Co. (NYSE:CR) Price Target at $98.86

Crane Co. (NYSE:CR) has been assigned an average rating of “Hold” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $98.86.

Several brokerages have commented on CR. DA Davidson upped their price objective on shares of Crane from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. ValuEngine downgraded shares of Crane from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, Buckingham Research upped their target price on shares of Crane from $97.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

NYSE:CR traded down $0.08 during midday trading on Wednesday, reaching $80.63. 162,918 shares of the stock traded hands, compared to its average volume of 219,650. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 2.17. Crane has a 12 month low of $67.18 and a 12 month high of $100.14. The stock has a market capitalization of $4.88 billion, a P/E ratio of 13.46, a PEG ratio of 2.04 and a beta of 1.37. The company has a fifty day moving average of $77.67 and a 200 day moving average of $82.35.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 22nd. The conglomerate reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.03. Crane had a net margin of 10.67% and a return on equity of 24.24%. The business had revenue of $841.60 million during the quarter, compared to analyst estimates of $833.30 million. During the same period in the prior year, the business earned $1.41 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Crane will post 6.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Saturday, August 31st were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, August 29th. Crane’s dividend payout ratio is presently 26.04%.

In other news, VP James A. Lavish sold 650 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $86.36, for a total value of $56,134.00. Following the sale, the vice president now directly owns 16,359 shares of the company’s stock, valued at approximately $1,412,763.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.39% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in Crane during the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Crane during the 2nd quarter valued at about $31,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Crane during the 2nd quarter valued at about $33,000. Icon Wealth Partners LLC purchased a new stake in shares of Crane during the 1st quarter valued at about $47,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Crane during the 2nd quarter valued at about $48,000. 69.22% of the stock is currently owned by hedge funds and other institutional investors.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Analyst Recommendations for Crane (NYSE:CR)

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