UBS Group Cuts Crane NXT (NYSE:CXT) Price Target to $60.00

Crane NXT (NYSE:CXT) had its price objective cut by UBS Group from $62.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also issued reports on CXT. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. DA Davidson reduced their target price on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.75.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $55.25 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The firm has a 50-day simple moving average of $49.22 and a 200 day simple moving average of $55.95. The company has a market cap of $3.17 billion, a PE ratio of 17.32 and a beta of 1.27.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The business had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Crane NXT will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT’s dividend payout ratio is currently 23.37%.

Institutional Trading of Crane NXT

A number of institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of Crane NXT by 3.0% in the 4th quarter. Deutsche Bank AG now owns 5,831 shares of the company’s stock worth $339,000 after acquiring an additional 168 shares during the period. Covestor Ltd lifted its stake in shares of Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after acquiring an additional 206 shares during the period. FourThought Financial Partners LLC lifted its stake in shares of Crane NXT by 4.6% in the 1st quarter. FourThought Financial Partners LLC now owns 4,909 shares of the company’s stock worth $252,000 after acquiring an additional 216 shares during the period. Amalgamated Bank lifted its stake in shares of Crane NXT by 1.0% in the 4th quarter. Amalgamated Bank now owns 22,950 shares of the company’s stock worth $1,336,000 after acquiring an additional 233 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in shares of Crane NXT by 1.2% in the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company’s stock worth $1,231,000 after acquiring an additional 254 shares during the period. 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.