Crane NXT (NYSE:CXT) Earns “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of Crane NXT (NYSE:CXT) in a research report report published on Monday morning, Benzinga reports. They currently have a $100.00 price target on the stock.

Crane NXT Trading Down 1.0 %

NYSE CXT opened at $55.29 on Monday. Crane NXT has a one year low of $48.42 and a one year high of $64.80. The company has a 50-day simple moving average of $57.76 and a 200-day simple moving average of $59.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The firm has a market capitalization of $3.16 billion, a PE ratio of 17.44 and a beta of 1.33.

Crane NXT (NYSE:CXT) last posted its earnings results 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 firm had revenue of $370.60 million during the quarter, compared to analyst estimates of $367.08 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. Crane NXT’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. On average, equities analysts forecast that Crane NXT will post 4.28 earnings per share for the current year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Crane NXT’s dividend payout ratio (DPR) is 20.19%.

Institutional Trading of Crane NXT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of Crane NXT during the 2nd quarter worth about $297,000. NewEdge Advisors LLC raised its position in shares of Crane NXT by 2,758.6% during the 2nd quarter. NewEdge Advisors LLC now owns 17,466 shares of the company’s stock worth $1,073,000 after buying an additional 16,855 shares in the last quarter. Algert Global LLC bought a new stake in shares of Crane NXT in the 2nd quarter worth approximately $299,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Crane NXT in the 2nd quarter worth approximately $293,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Crane NXT by 294.8% in the 2nd quarter. Mackenzie Financial Corp now owns 36,423 shares of the company’s stock worth $2,237,000 after purchasing an additional 27,197 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

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.