Crane NXT (NYSE:CXT) Rating Reiterated by DA Davidson

Crane NXT (NYSE:CXT)‘s stock had its “buy” rating restated by analysts at DA Davidson in a report released on Monday, Benzinga reports. They presently have a $100.00 target price on the stock. DA Davidson’s price target suggests a potential upside of 81.72% from the stock’s current price.

Crane NXT Stock Down 1.9 %

Shares of CXT opened at $55.03 on Monday. The firm has a 50 day simple moving average of $57.86 and a two-hundred day simple moving average of $59.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. Crane NXT has a one year low of $48.42 and a one year high of $64.80. The company has a market cap of $3.14 billion, a P/E ratio of 17.36 and a beta of 1.33.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The company had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. Crane NXT’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 EPS. Research analysts forecast that Crane NXT will post 4.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Crane NXT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its stake in shares of Crane NXT by 107.5% in the 4th quarter. Corient Private Wealth LLC now owns 16,930 shares of the company’s stock valued at $963,000 after acquiring an additional 8,772 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Crane NXT by 124.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 47,501 shares of the company’s stock valued at $2,701,000 after purchasing an additional 26,375 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Crane NXT by 3.7% during the fourth quarter. Bank of Nova Scotia now owns 7,613 shares of the company’s stock valued at $433,000 after purchasing an additional 270 shares in the last quarter. KBC Group NV increased its stake in shares of Crane NXT by 1.9% in the fourth quarter. KBC Group NV now owns 28,999 shares of the company’s stock valued at $1,649,000 after buying an additional 546 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Crane NXT by 16.0% in the fourth quarter. First Trust Advisors LP now owns 473,808 shares of the company’s stock valued at $26,945,000 after buying an additional 65,333 shares during the period. Institutional investors own 77.49% of the company’s stock.

About Crane NXT

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.