Stifel Nicolaus Reiterates Hold Rating for Crane (CR)

Crane (NYSE:CR)‘s stock had its “hold” rating restated by Stifel Nicolaus in a note issued to investors on Tuesday. They presently have a $99.00 price objective on the conglomerate’s stock, up from their prior price objective of $87.00. Stifel Nicolaus’ price target points to a potential upside of 6.19% from the stock’s current price.

Several other equities analysts also recently weighed in on CR. Royal Bank of Canada reaffirmed a “hold” rating on shares of Crane in a research report on Monday, September 25th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Monday, October 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research report on Monday, October 2nd. Scotiabank reaffirmed a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Finally, Wolfe Research downgraded Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Crane has an average rating of “Buy” and a consensus target price of $95.83.

Crane (CR) traded up $0.93 during midday trading on Tuesday, reaching $93.23. The company’s stock had a trading volume of 175,400 shares, compared to its average volume of 242,664. The firm has a market cap of $5,477.99, a P/E ratio of 41.81, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. Crane has a 52 week low of $67.62 and a 52 week high of $93.59.

Crane (NYSE:CR) last released its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. Crane’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. sell-side analysts anticipate that Crane will post 4.53 EPS for the current fiscal year.

In related news, Director James L. L. Tullis sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Thayer Bigelow sold 1,067 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $82.79, for a total value of $88,336.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,403 shares of company stock valued at $1,896,288. Corporate insiders own 3.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Crane by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after purchasing an additional 95,817 shares in the last quarter. BlackRock Inc. lifted its stake in Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after buying an additional 80,055 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Crane by 13.1% in the third quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after buying an additional 167,051 shares during the last quarter. State Street Corp lifted its stake in Crane by 2.1% in the second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after buying an additional 26,771 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Crane by 0.4% in the third quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock valued at $90,797,000 after buying an additional 4,000 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://stocknewstimes.com/2018/01/18/stifel-nicolaus-reiterates-hold-rating-for-crane-cr.html.

About Crane

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

Analyst Recommendations for Crane (NYSE:CR)

Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply