Crane NXT, Co. (NYSE:CXT) Receives $73.75 Average Price Target from Brokerages

Crane NXT, Co. (NYSE:CXT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $73.75.

Several brokerages have issued reports on CXT. DA Davidson dropped their price target on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. UBS Group cut their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target on the stock. in a research report on Tuesday, February 18th.

Crane NXT Price Performance

Shares of CXT stock traded up $0.81 during trading on Friday, hitting $56.33. The company had a trading volume of 425,916 shares, compared to its average volume of 397,678. The stock's 50-day moving average is $49.62 and its two-hundred day moving average is $55.66. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 17.66 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT has a 52 week low of $41.54 and a 52 week high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The firm had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. During the same quarter last year, the company posted $0.85 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Crane NXT will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. Crane NXT's dividend payout ratio is currently 23.37%.

Institutional Investors Weigh In On Crane NXT

A number of large investors have recently added to or reduced their stakes in CXT. Barclays PLC boosted its holdings in shares of Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company's stock worth $2,113,000 after purchasing an additional 11,734 shares during the period. RNC Capital Management LLC purchased a new stake in Crane NXT in the 4th quarter worth approximately $764,000. Entropy Technologies LP bought a new stake in shares of Crane NXT in the 4th quarter worth approximately $643,000. Congress Asset Management Co. grew its position in shares of Crane NXT by 1.3% in the 4th quarter. Congress Asset Management Co. now owns 752,734 shares of the company's stock worth $43,824,000 after buying an additional 9,921 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Crane NXT by 699.2% during the fourth quarter. Principal Securities Inc. now owns 3,892 shares of the company's stock valued at $227,000 after buying an additional 3,405 shares during the period. Institutional investors own 77.49% of the company's stock.

About Crane NXT

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.