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

Stock analysts at Robert W. Baird began coverage on shares of Crane NXT (NYSE:CXT) in a research report issued to clients and 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 target suggests a potential upside of 38.49% from the stock’s current price.

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

Crane NXT Stock Performance

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

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

Hedge Funds Weigh In On Crane NXT

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Crane NXT in the 4th quarter worth $66,550,000. Pacer Advisors Inc. lifted its holdings in shares of Crane NXT by 93.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after purchasing an additional 548,155 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Crane NXT by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after purchasing an additional 33,460 shares in the last quarter. Capital International Investors lifted its holdings in shares of Crane NXT by 40.0% in the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after purchasing an additional 186,437 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Crane NXT by 3,331.1% in the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after purchasing an additional 578,043 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.