Crane NXT (NYSE:CXT) Receives Buy Rating from DA Davidson

Key Points

• DA Davidson has reiterated its buy rating for Crane NXT (NYSE:CXT) with a price target of $85.00, suggesting a potential upside of 41.11%.
• UBS Group recently downgraded its rating on Crane NXT, lowering the price target from $62.00 to $60.00 while maintaining a neutral outlook.
• Crane NXT reported earnings of $0.97 per share for the latest quarter, exceeding analyst expectations of $0.92, along with revenue of $404.40 million.

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 Monday,Benzinga reports. They currently have a $85.00 price target on the stock. DA Davidson's price objective indicates a potential upside of 41.11% from the stock's current price.

Separately, UBS Group cut their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Performance

Crane NXT stock traded up $0.59 during trading hours on Monday, hitting $60.24. 72,876 shares of the stock traded hands, compared to its average volume of 423,551. 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 firm's 50 day moving average price is $57.14 and its 200-day moving average price is $54.26. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 22.99 and a beta of 1.33. Crane NXT has a 1 year low of $41.54 and a 1 year high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $382.79 million. As a group, equities analysts expect that Crane NXT will post 4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Crane NXT during the fourth quarter worth $26,000. AlphaQuest LLC purchased a new position in shares of Crane NXT during the second quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Crane NXT by 4,080.0% during the second quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company's stock worth $34,000 after buying an additional 612 shares during the period. UMB Bank n.a. boosted its position in shares of Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after buying an additional 327 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Crane NXT by 120.3% during the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $37,000 after buying an additional 391 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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