Crane NXT's (CXT) Buy Rating Reaffirmed at DA Davidson

Key Points

• Crane NXT's stock has received a "buy" rating from DA Davidson, with a price target of $85.00, suggesting a potential upside of 40.75% from the previous close.
• The company reported an earnings per share (EPS) of $0.97 for the last quarter, exceeding analysts' expectations of $0.92, along with revenues of $404.40 million.
• Institutional investors have increased their holdings significantly, with AllianceBernstein L.P. raising its stake by 2,449.9% during the 2nd quarter.

Crane NXT (NYSE:CXT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $85.00 price objective on the stock. DA Davidson's price target would indicate a potential upside of 49.58% from the company's previous close.

Crane NXT Trading Down 1.4%

Crane NXT stock traded down $0.79 during trading on Monday, reaching $56.83. The company had a trading volume of 223,580 shares, compared to its average volume of 422,973. Crane NXT has a 12-month low of $41.54 and a 12-month high of $67.00. The stock's 50 day moving average price is $59.48 and its two-hundred day moving average price is $54.46. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 21.73 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The firm had revenue of $404.40 million for 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%. As a group, equities analysts expect that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AlphaQuest LLC bought a new stake in shares of Crane NXT in the second quarter worth $25,000. Park Square Financial Group LLC bought a new position in shares of Crane NXT during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew 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 acquiring an additional 612 shares during the last quarter. UMB Bank n.a. grew 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 acquiring an additional 327 shares during the last quarter. Finally, Jones Financial Companies Lllp grew 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 acquiring an additional 391 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

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.