Avondale Partners reaffirmed their market perform rating on shares of Crane Co. (NYSE:CR) in a research report report published on Wednesday morning.
CR has been the topic of a number of other research reports. Royal Bank Of Canada increased their target price on shares of Crane from $57.00 to $63.00 and gave the stock a sector perform rating in a research report on Wednesday, July 27th. Zacks Investment Research lowered shares of Crane from a buy rating to a hold rating in a research report on Tuesday, September 27th. Credit Suisse Group AG reiterated a hold rating on shares of Crane in a research report on Friday, August 5th. Bank of America Corp. upgraded shares of Crane from an underperform rating to a neutral rating and set a $70.00 price target on the stock in a research report on Friday, July 29th. Finally, Canaccord Genuity reiterated a hold rating and set a $60.00 price target on shares of Crane in a research report on Friday, June 17th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Crane currently has a consensus rating of Hold and a consensus target price of $62.70.
Shares of Crane (NYSE:CR) opened at 60.78 on Wednesday. The firm’s 50-day moving average is $62.55 and its 200-day moving average is $59.16. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 14.61 and a beta of 1.37. Crane has a 12-month low of $41.68 and a 12-month high of $65.88.
Crane (NYSE:CR) last announced its earnings results on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The firm had revenue of $712.20 million for the quarter, compared to analyst estimates of $697.13 million. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was up .1% compared to the same quarter last year. Analysts predict that Crane will post ($0.17) earnings per share for the current fiscal year.
In other news, Director Philip R. Lochner sold 4,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $64.90, for a total transaction of $259,600.00. Following the completion of the transaction, the director now owns 2,350 shares of the company’s stock, valued at $152,515. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP A D. Pantaleoni sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total transaction of $313,700.00. Following the transaction, the vice president now directly owns 9,876 shares of the company’s stock, valued at approximately $619,620.24. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its position in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock valued at $173,000 after buying an additional 1,305 shares during the last quarter. Citigroup Inc. increased its position in shares of Crane by 32.9% in the second quarter. Citigroup Inc. now owns 3,469 shares of the company’s stock worth $197,000 after buying an additional 859 shares in the last quarter. Synovus Financial Corp increased its position in shares of Crane by 46.1% in the second quarter. Synovus Financial Corp now owns 3,485 shares of the company’s stock worth $198,000 after buying an additional 1,100 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in shares of Crane during the second quarter worth $210,000. Finally, Parametrica Management Ltd purchased a new position in shares of Crane during the third quarter worth $211,000. 67.40% of the stock is owned by hedge funds and other institutional investors.
Crane Company Profile