Crane NXT (NYSE:CXT) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Crane NXT (NYSE:CXT) in a research note issued to investors on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $77.00 price target on the stock. Robert W. Baird’s price objective would suggest a potential upside of 38.49% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities cut their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th.

Crane NXT Trading Up 1.5 %

Shares of Crane NXT stock opened at $55.60 on Thursday. The firm’s 50-day moving average price is $56.74 and its two-hundred day moving average price is $59.29. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 17.54 and a beta of 1.32. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. Crane NXT has a 12-month low of $48.42 and a 12-month high of $64.80.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. On average, analysts forecast that Crane NXT will post 4.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crane NXT

Hedge funds have recently added to or reduced their stakes in the business. Congress Wealth Management LLC DE acquired a new position in shares of Crane NXT during the first quarter worth $5,633,000. Congress Asset Management Co. MA lifted its holdings in Crane NXT by 3,331.1% during the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after buying an additional 578,043 shares during the period. Wellington Management Group LLP bought a new stake in shares of Crane NXT in the 4th quarter valued at about $66,550,000. SG Americas Securities LLC acquired a new stake in shares of Crane NXT in the second quarter valued at about $748,000. Finally, Sei Investments Co. raised its position in shares of Crane NXT by 17.9% during the first quarter. Sei Investments Co. now owns 140,668 shares of the company’s stock worth $8,708,000 after acquiring an additional 21,360 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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.