Crane NXT (NYSE:CXT) Rating Reiterated by DA Davidson

Crane NXT (NYSE:CXT)‘s stock had its “buy” rating reissued by DA Davidson in a research report issued 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 79.24% from the company’s current price.

Crane NXT Price Performance

Shares of CXT stock remained flat at $55.79 during trading on Monday. 21,612 shares of the company traded hands, compared to its average volume of 342,486. Crane NXT has a one year low of $48.42 and a one year high of $64.80. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $58.12 and its 200-day simple moving average is $59.81. The firm has a market cap of $3.19 billion, a PE ratio of 17.61 and a beta of 1.33.

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

Hedge Funds Weigh In On Crane NXT

A number of institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its position in Crane NXT by 107.5% in the fourth quarter. Corient Private Wealth LLC now owns 16,930 shares of the company’s stock worth $963,000 after purchasing an additional 8,772 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Crane NXT by 124.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 47,501 shares of the company’s stock valued at $2,701,000 after acquiring an additional 26,375 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Crane NXT by 3.7% in the 4th quarter. Bank of Nova Scotia now owns 7,613 shares of the company’s stock worth $433,000 after buying an additional 270 shares during the period. KBC Group NV lifted its stake in shares of Crane NXT by 1.9% during the 4th quarter. KBC Group NV now owns 28,999 shares of the company’s stock worth $1,649,000 after purchasing an additional 546 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Crane NXT by 16.0% during the 4th quarter. First Trust Advisors LP now owns 473,808 shares of the company’s stock valued at $26,945,000 after buying an additional 65,333 shares in 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.