Crane NXT (NYSE:CXT) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• Crane NXT (NYSE:CXT) received a "hold (C+)" rating from Weiss Ratings, with a consensus average rating of "Moderate Buy" and a price target of $73.75.
• The company's shares traded at $68.90, reflecting a recent increase, and it has a market capitalization of $3.96 billion.
• Crane NXT reported quarterly earnings of $0.97 per share, exceeding expectations, with a revenue of $404.40 million for the quarter.

Crane NXT (NYSE:CXT - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, DA Davidson reissued a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Stock Performance

Shares of CXT stock traded up $1.51 during trading hours on Wednesday, reaching $68.90. 354,519 shares of the company traded hands, compared to its average volume of 527,383. Crane NXT has a 12-month low of $41.54 and a 12-month high of $68.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. The company has a market cap of $3.96 billion, a P/E ratio of 26.30 and a beta of 1.36. The firm has a 50-day moving average price of $61.21 and a 200 day moving average price of $55.49.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The business had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. As a group, sell-side analysts predict that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crane NXT

Several large investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its holdings in Crane NXT by 2,449.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company's stock worth $95,446,000 after buying an additional 1,701,361 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Crane NXT by 173.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company's stock worth $55,750,000 after buying an additional 687,738 shares during the last quarter. Norges Bank acquired a new stake in Crane NXT in the 2nd quarter valued at about $32,163,000. Wellington Management Group LLP lifted its position in Crane NXT by 16.2% during the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock worth $188,584,000 after acquiring an additional 512,813 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in Crane NXT by 83.5% during the first quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company's stock worth $51,048,000 after acquiring an additional 451,814 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

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.

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