Crane NXT (NYSE:CXT) Hits New 52-Week High - Here's What Happened

Key Points

• Crane NXT reached a new 52-week high of $67.14 during trading on Monday, with a last traded price of $67.01 and a volume of 5406 shares.
• Several analysts have a consensus price target of $73.75 for Crane NXT, with ratings ranging from "Strong Buy" to "Hold."
• The company reported better-than-expected quarterly earnings of $0.97 per share, surpassing analyst estimates and achieving a revenue of $404.40 million.

Crane NXT, Co. (NYSE:CXT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.14 and last traded at $67.01, with a volume of 5406 shares traded. The stock had previously closed at $66.47.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CXT shares. DA Davidson restated a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Crane NXT in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four 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 price target of $73.75.

Crane NXT Trading Up 0.5%

The company has a market capitalization of $3.83 billion, a P/E ratio of 25.59 and a beta of 1.36. The business has a 50 day moving average price of $60.74 and a 200 day moving average price of $55.21. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73.

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

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. Crane NXT's payout ratio is 25.95%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Crane NXT by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock worth $381,000 after acquiring an additional 2,074 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Crane NXT by 5,320.8% during the first quarter. GAMMA Investing LLC now owns 133,948 shares of the company's stock worth $6,885,000 after acquiring an additional 131,477 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Crane NXT by 5.8% during the first quarter. Congress Asset Management Co. now owns 796,412 shares of the company's stock worth $40,936,000 after acquiring an additional 43,678 shares during the period. UMB Bank n.a. lifted its position in Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after acquiring an additional 327 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares during the period. 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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