Crane NXT's (CXT) "Hold (C+)" Rating Reiterated at Weiss Ratings

Key Points

• Crane NXT's stock holds a "Hold (C+)" rating according to Weiss Ratings, with other analysts maintaining a mixed outlook, including some Buy ratings and a consensus target price of $75.00.
• Despite a recent decline in stock price, Crane NXT's shares have seen significant institutional investment, with 77.49% of the stock currently owned by institutional investors.
• The company reported $1.81 EPS for the quarter ending June 1st, with forecasts estimating earnings of 4.16 EPS for the current fiscal year.

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

Other analysts also recently issued research reports about the company. DA Davidson restated a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a research note on Tuesday, September 23rd. Oppenheimer increased their target price on Crane NXT from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $75.00.

Crane NXT Stock Down 0.6%

CXT stock traded down $0.41 during midday trading on Friday, hitting $66.14. The stock had a trading volume of 360,228 shares, compared to its average volume of 398,400. 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 business has a 50-day moving average of $63.12 and a two-hundred day moving average of $56.90. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 25.24 and a beta of 1.36. Crane NXT has a 52-week low of $41.54 and a 52-week high of $69.00.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The business had revenue of $871.50 million for the quarter. As a group, equities research analysts forecast that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crane NXT

Large investors have recently bought and sold shares of the business. 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 valued at $188,584,000 after purchasing an additional 512,813 shares during the period. Alliancebernstein L.P. grew its position in Crane NXT by 2,449.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company's stock worth $95,446,000 after purchasing an additional 1,701,361 shares during the period. State Street Corp raised its stake in Crane NXT by 0.7% during the 2nd quarter. State Street Corp now owns 1,533,762 shares of the company's stock valued at $82,670,000 after buying an additional 9,959 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Crane NXT by 13.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock valued at $70,312,000 after buying an additional 161,417 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Crane NXT by 16.5% during the 2nd quarter. Invesco Ltd. now owns 1,240,520 shares of the company's stock valued at $66,864,000 after buying an additional 175,771 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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