Crane NXT (NYSE:CXT) Given Buy Rating at DA Davidson

Key Points

• DA Davidson reiterated its Buy rating on Crane NXT and set an $85 price target, implying approximately 85% upside from the prior close.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $68.20.
• Crane NXT exceeded quarterly expectations, reporting $1.10 in EPS versus $1.04 expected and $493.2 million in revenue, up 22.1% year over year.

Crane NXT (NYSE:CXT - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $85.00 target price on the stock. DA Davidson's target price points to a potential upside of 85.04% from the company's previous close.

Several other equities research analysts have also issued reports on CXT. Weiss Ratings raised shares of Crane NXT from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Northland Securities set a $65.00 price target on shares of Crane NXT in a research report on Monday, August 10th. Finally, Robert W. Baird set a $68.00 price target on Crane NXT in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $68.20.

Crane NXT Trading Up 1.4%

Shares of NYSE CXT traded up $0.65 during midday trading on Friday, hitting $45.94. The stock had a trading volume of 95,934 shares, compared to its average volume of 763,006. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 1.00. Crane NXT has a 1-year low of $35.71 and a 1-year high of $69.00. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 18.81 and a beta of 1.08. The company has a fifty day moving average price of $50.89 and a 200 day moving average price of $46.11.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. The firm had revenue of $493.20 million during the quarter, compared to the consensus estimate of $475.62 million. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The company's revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, analysts predict that Crane NXT will post 4.27 earnings per share for the current year.

Institutional Trading of Crane NXT

A number of hedge funds and other institutional investors have recently modified their holdings of CXT. BlackRock Inc. purchased a new position in Crane NXT in the second quarter valued at about $329,797,000. Dimensional Fund Advisors LP increased its holdings in Crane NXT by 12.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,930,800 shares of the company's stock worth $78,366,000 after purchasing an additional 214,857 shares during the last quarter. Southernsun Asset Management LLC raised its position in shares of Crane NXT by 17.3% in the 1st quarter. Southernsun Asset Management LLC now owns 783,808 shares of the company's stock valued at $31,815,000 after purchasing an additional 115,598 shares in the last quarter. Norges Bank acquired a new position in shares of Crane NXT in the 4th quarter valued at approximately $30,057,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Crane NXT during the 2nd quarter valued at approximately $23,160,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

About Crane NXT

Crane NXT, Inc is a technology company that develops solutions for payment acceptance, cash management and brand protection. Its products are used by businesses and governments to authenticate currency, process transactions and protect products and documents from counterfeiting.

Through its Crane Payment Innovations business, the company provides banknote and coin validators, cashless payment systems, transaction-processing technology, telemetry and related software. These solutions serve industries such as vending, gaming, retail, transportation and other unattended-payment markets.

Crane NXT also operates Crane Currency, which supplies banknotes, security features and authentication technologies for central banks, commercial institutions and other organizations.

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