Crane (NYSE:CR) Cut to Hold at StockNews.com

Crane (NYSE:CR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus lifted their target price on Crane from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America boosted their price objective on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.00.

Crane Stock Performance

Crane stock traded up $0.15 during midday trading on Friday, reaching $129.54. The stock had a trading volume of 314,801 shares, compared to its average volume of 237,226. Crane has a 12 month low of $67.28 and a 12 month high of $139.34. The firm’s 50-day moving average price is $129.57 and its 200 day moving average price is $114.60. The firm has a market capitalization of $7.40 billion, a PE ratio of 35.11, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $532.90 million during the quarter, compared to analyst estimates of $519.55 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. As a group, research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crane

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Money Concepts Capital Corp purchased a new stake in shares of Crane in the fourth quarter worth $25,000. Ronald Blue Trust Inc. lifted its holdings in Crane by 99.3% in the third quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 143 shares during the period. Amundi bought a new position in Crane in the fourth quarter valued at about $32,000. Fifth Third Bancorp raised its stake in shares of Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after buying an additional 99 shares during the period. Finally, Zions Bancorporation N.A. bought a new position in shares of Crane in the first quarter worth about $42,000. 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.