Crane NXT (NYSE:CXT) Now Covered by Robert W. Baird

Research analysts at Robert W. Baird initiated coverage on shares of Crane NXT (NYSE:CXT) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $77.00 price target on the stock. Robert W. Baird’s target price would indicate a potential upside of 32.28% from the stock’s previous close.

Several other brokerages have also recently issued reports on CXT. DA Davidson reiterated a “buy” rating and set a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th. Northland Securities dropped their target price on shares of 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 Trading Up 0.5 %

CXT stock opened at $58.21 on Thursday. The company has a market capitalization of $3.33 billion, a PE ratio of 18.36 and a beta of 1.32. Crane NXT has a 12 month low of $48.42 and a 12 month high of $64.80. The firm’s 50-day moving average is $56.80 and its 200 day moving average is $59.26. 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 (NYSE:CXT) last issued its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. During the same period in the prior year, the business earned $1.12 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Crane NXT will post 4.28 EPS for the current year.

Institutional Trading of Crane NXT

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Crane NXT by 9.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after buying an additional 195 shares in the last quarter. Blue Trust Inc. boosted its stake in Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after purchasing an additional 205 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Crane NXT by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares in the last quarter. Arizona State Retirement System boosted its stake in Crane NXT by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 13,548 shares of the company’s stock worth $832,000 after purchasing an additional 279 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Crane NXT by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 11,872 shares of the company’s stock worth $735,000 after purchasing an additional 300 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.