Morgan Stanley Raises Crane (NYSE:CR) Price Target to $116.00
Crane (NYSE: CR) had its price target raised by Morgan Stanley from $111.00 to $116.00 in a research note released Monday to investors, Stock Target Advisor reports. The company currently has an “equal weight” rating on shares of the conglomerate. Morgan Stanley’s target price indicates a potential upside of 15.50% from the company’s current price.
Several other stock analysts have also published reports on the company. Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating and set a price target of $107.00 for the company in a research report on Thursday. DA Davidson raised its price target on Crane from $115.00 to $125.00 and gave the company a “buy” rating in a Tuesday, October 26 research report. They noted that the move was a review call. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $114.20.
Shares of Crane rose $0.54 during Monday’s trading, hitting $100.43. 2,801 shares of the company were traded, against an average volume of 307,079. The company has a market capitalization of $5.90 billion, a P/E ratio of 14.39, a price/earnings growth ratio of 0.72 and a beta of 1.71. Crane has a 1-year low of $74.58 and a 1-year high of $108.67. The company’s fifty-day moving average price is $101.53 and its 200-day moving average price is $99.03. The company has a debt ratio of 0.47, a current ratio of 2.30 and a quick ratio of 1.72.
Crane Inc (NYSE:CR) last reported results on Monday, January 24. The conglomerate reported earnings per share (EPS) of $1.25 for the quarter, beating Thomson Reuters consensus estimate of $1.12 by $0.13. Crane had a return on equity of 22.61% and a net margin of 12.86%. The company posted revenue of $770.50 million in the quarter, compared to analyst estimates of $745.61 million. During the same period of the previous year, the company achieved EPS of $1.00. The company’s revenue for the quarter increased 12.7% compared to the same quarter last year. As a group, equity research analysts expect Crane to post earnings per share of 6.42 for the current year.
In other news, Director James L. L Tullis sold 2,000 shares of the company in a trade that took place on Wednesday, November 24. The stock was sold at an average price of $104.71, for a total transaction of $209,420.00. The sale was disclosed in a legal filing with the SEC, accessible via this link. Company insiders own 3.00% of the company’s shares.
A number of institutional investors and hedge funds have been buying and selling stocks recently. AQR Capital Management LLC increased its stake in Crane by 22.6% in the second quarter. AQR Capital Management LLC now owns 184,893 shares of the conglomerate valued at $16,663,000 after purchasing an additional 34,140 shares during the period. Millennium Management LLC increased its stake in Crane to 81.4% in the second quarter. Millennium Management LLC now owns 13,291 shares of the conglomerate valued at $1,228,000 after purchasing an additional 5,964 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Crane by 5.1% in Q2. Price T Rowe Associates Inc. MD now owns 20,149 shares of the conglomerate valued at $1,861,000 after purchasing an additional 982 shares during the period. Sigma Planning Corp raised its position in Crane shares by 8.3% in the second quarter. Sigma Planning Corp now owns 3,734 shares of the conglomerate valued at $345,000 after buying 287 more shares last quarter. Finally, Great West Life Assurance Co. Can increased its position in Crane shares by 2.2% in the second quarter. Great West Life Assurance Co. Can now owns 19,457 shares of the conglomerate valued at $1,795,000 after buying 421 additional shares last quarter. Institutional investors and hedge funds hold 70.47% of the company’s shares.
Crane Company Profile
Crane Co engages in the manufacture of engineered industrial products. It operates through the following business segments: Fluid Handling, Payment and Merchandising Technologies, Aerospace and Electronics, and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.
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