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

by · The Markets Daily

DA Davidson reiterated their buy rating on shares of Crane NXT (NYSE:CXT – Free Report) in a research note released on Monday, Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

Crane NXT Stock Up 1.5 %

Shares of NYSE CXT opened at $55.82 on Monday. The firm has a 50 day moving average price of $57.76 and a 200 day moving average price of $59.72. 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 stock has a market cap of $3.19 billion, a P/E ratio of 17.61 and a beta of 1.33. Crane NXT has a 52-week low of $48.42 and a 52-week high of $64.80.

Crane NXT (NYSE:CXT – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $367.08 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. Analysts expect that Crane NXT will post 4.28 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. Crane NXT’s dividend payout ratio is presently 20.19%.

Institutional Trading of Crane NXT

Large investors have recently bought and sold shares of the business. LRI Investments LLC acquired a new position in shares of Crane NXT in the first quarter valued at approximately $38,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT in the 2nd quarter valued at $52,000. Blue Trust Inc. boosted its stake in Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after purchasing an additional 205 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Crane NXT by 154.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock valued at $100,000 after purchasing an additional 984 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Crane NXT by 9.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after purchasing an additional 195 shares during the period. 77.49% of the stock is owned by institutional investors.

About Crane NXT

(Get Free Report)

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.

Read More