Crane NXT's (CXT) "Buy" Rating Reaffirmed at 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 reaffirmed by DA Davidson in a research report issued on Monday,Benzinga reports. They currently have a $85.00 price objective on the stock. DA Davidson's target price would suggest a potential upside of 34.33% from the stock's current price.

Separately, UBS Group reduced their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Crane NXT presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Stock Up 5.2%

Shares of Crane NXT stock traded up $3.1270 on Monday, hitting $63.2770. The company had a trading volume of 375,062 shares, compared to its average volume of 414,715. The firm has a market capitalization of $3.63 billion, a P/E ratio of 24.15 and a beta of 1.33. Crane NXT has a twelve month low of $41.54 and a twelve month high of $67.00. 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 stock has a 50-day moving average of $57.69 and a 200-day moving average of $54.30.

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

Institutional Trading of Crane NXT

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hudson Bay Capital Management LP raised its stake in Crane NXT by 1,004.8% in the second quarter. Hudson Bay Capital Management LP now owns 110,482 shares of the company's stock valued at $5,955,000 after buying an additional 100,482 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Crane NXT by 261.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,873 shares of the company's stock worth $263,000 after purchasing an additional 3,524 shares during the period. Captrust Financial Advisors bought a new position in shares of Crane NXT during the second quarter worth approximately $208,000. Scott Marsh Financial LLC bought a new position in shares of Crane NXT during the second quarter worth approximately $689,000. Finally, Oxford Asset Management LLP bought a new position in shares of Crane NXT during the second quarter worth approximately $313,000. Institutional investors own 77.49% of the company's stock.

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.