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UBS Group Reaffirms "Buy" Rating for Crane (NYSE:CR)

Crane logo with Industrials background

Key Points

  • UBS Group raised the target price for Crane stock from $215.00 to $230.00, indicating a potential upside of 17.93% from its previous close.
  • Multiple analysts have a consensus rating of "Moderate Buy", with an average price target of $214.00.
  • Crane's recent earnings report exceeded expectations with an EPS of $1.49, surpassing the consensus estimate of $1.34.
  • Five stocks we like better than Crane.

Crane (NYSE:CR - Get Free Report)'s stock had its "buy" rating reissued by research analysts at UBS Group in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $230.00 price target on the conglomerate's stock, up from their prior price target of $215.00. UBS Group's target price suggests a potential upside of 20.44% from the stock's current price.

A number of other brokerages have also recently commented on CR. Stifel Nicolaus raised their price objective on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday. DA Davidson restated a "buy" rating and set a $200.00 price target on shares of Crane in a research note on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $221.50.

Get Our Latest Analysis on Crane

Crane Trading Down 2.5%

Crane stock traded down $4.81 during trading hours on Wednesday, reaching $190.96. 47,360 shares of the company's stock traded hands, compared to its average volume of 314,093. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $127.04 and a fifty-two week high of $203.89. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.93 and a beta of 1.26. The firm's 50 day moving average is $184.46 and its 200-day moving average is $167.72.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.15. The firm had revenue of $577.20 million for the quarter, compared to the consensus estimate of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, analysts predict that Crane will post 7.87 earnings per share for the current year.

Insider Activity

In related news, SVP Jason D. Feldman sold 1,300 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total value of $230,230.00. Following the completion of the transaction, the senior vice president directly owned 9,796 shares of the company's stock, valued at $1,734,871.60. This trade represents a 11.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crane

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in Crane by 4.3% in the second quarter. Bessemer Group Inc. now owns 207,485 shares of the conglomerate's stock valued at $39,400,000 after buying an additional 8,574 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Crane by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 78,997 shares of the conglomerate's stock valued at $15,001,000 after purchasing an additional 1,689 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Crane in the 2nd quarter valued at $409,000. AlphaQuest LLC boosted its holdings in shares of Crane by 163.6% in the 2nd quarter. AlphaQuest LLC now owns 2,436 shares of the conglomerate's stock valued at $463,000 after buying an additional 1,512 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Crane by 276.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,402 shares of the conglomerate's stock worth $1,026,000 after acquiring an additional 3,967 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

About Crane

(Get Free Report)

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.

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