Crane NXT (NYSE:CXT) Upgraded to Strong-Buy by Baird R W

Baird R W upgraded shares of Crane NXT (NYSE:CXT) to a strong-buy rating in a research report report published on Thursday morning, Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird began coverage on shares of Crane NXT in a report on Thursday. They set an “outperform” rating and a $77.00 price target on the stock. DA Davidson reiterated a “buy” rating and set a $100.00 target price on shares of Crane NXT in a research note on Monday, September 30th. Finally, Northland Securities reduced their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

Crane NXT Stock Performance

Crane NXT stock opened at $57.88 on Thursday. The stock’s 50 day moving average is $56.77 and its 200 day moving average is $59.28. The company has a market capitalization of $3.31 billion, a P/E ratio of 18.26 and a beta of 1.32. Crane NXT has a twelve month low of $48.42 and a twelve month high of $64.80. 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 (NYSE:CXT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. The firm had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. During the same period last year, the company earned $1.12 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Crane NXT will post 4.28 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. Crane NXT’s dividend payout ratio (DPR) is 20.19%.

Institutional Investors Weigh In On Crane NXT

A number of large investors have recently added to or reduced their stakes in CXT. LRI Investments LLC bought a new position in shares of Crane NXT during the 1st quarter valued at $38,000. nVerses Capital LLC bought a new position in Crane NXT in the third quarter valued at about $45,000. Hobbs Group Advisors LLC purchased a new position in Crane NXT in the second quarter worth about $52,000. Blue Trust Inc. grew its stake in shares of Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after purchasing an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Crane NXT by 154.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock valued at $100,000 after buying an additional 984 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

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.