Crane (NYSE:CR) Price Target Raised to $150.00

Crane (NYSE:CR - Get Free Report) had its price target upped by stock analysts at Stifel Nicolaus from $135.00 to $150.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the conglomerate's stock. Stifel Nicolaus' price target would indicate a potential upside of 15.30% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America increased their target price on shares of Crane from $110.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. StockNews.com cut shares of Crane from a "buy" rating to a "hold" rating in a research report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $125.00.

Crane Price Performance

Shares of Crane stock traded down $1.67 during mid-day trading on Wednesday, reaching $130.09. 152,518 shares of the stock were exchanged, compared to its average volume of 237,212. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $129.46 and a 200 day simple moving average of $114.20. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $139.34.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The business had revenue of $532.90 million during the quarter, compared to analysts' expectations of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. On average, sell-side analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CR. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Crane by 8.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate's stock valued at $1,608,000 after purchasing an additional 1,104 shares during the last quarter. American Century Companies Inc. boosted its stake in Crane by 3.0% during the 1st quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate's stock worth $1,129,000 after acquiring an additional 299 shares during the last quarter. HighTower Advisors LLC boosted its stake in Crane by 82.1% during the 1st quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate's stock worth $445,000 after acquiring an additional 1,849 shares during the last quarter. Citigroup Inc. boosted its stake in Crane by 4.7% during the 1st quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate's stock worth $851,000 after acquiring an additional 355 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Crane by 1.1% during the 1st quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate's stock worth $1,408,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

About Crane

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.