Crane NXT, Co. (NYSE:CXT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Crane NXT, Co. (NYSE:CXT) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $73.75.

A number of equities research analysts have commented on CXT shares. DA Davidson reiterated a “buy” rating and set a $85.00 target price on shares of Crane NXT in a report on Monday, August 18th. UBS Group lowered their target price on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th.

Institutional Investors Weigh In On Crane NXT

Hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. increased its position in shares of Crane NXT by 2,449.9% during the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock worth $95,446,000 after acquiring an additional 1,701,361 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Crane NXT by 173.3% during the first quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company’s stock worth $55,750,000 after acquiring an additional 687,738 shares during the last quarter. Norges Bank purchased a new stake in shares of Crane NXT during the second quarter worth about $32,163,000. Wellington Management Group LLP increased its position in shares of Crane NXT by 16.2% during the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company’s stock worth $188,584,000 after acquiring an additional 512,813 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Crane NXT by 95.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock worth $59,470,000 after acquiring an additional 499,290 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Stock Performance

NYSE CXT opened at $61.11 on Thursday. Crane NXT has a 1-year low of $41.54 and a 1-year high of $67.00. The company has a market capitalization of $3.51 billion, a P/E ratio of 23.32 and a beta of 1.33. The business has a 50 day moving average price of $58.06 and a 200 day moving average price of $54.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $404.40 million during the quarter, compared to the consensus estimate of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. Sell-side analysts expect that Crane NXT will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 29th. Crane NXT’s dividend payout ratio is 25.95%.

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.