Crane NXT’s (CXT) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Crane NXT (NYSE:CXT) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $85.00 price target on the stock.

Crane NXT Stock Performance

Shares of CXT opened at $63.23 on Tuesday. The company has a 50-day moving average of $59.82 and a two-hundred day moving average of $54.70. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3.63 billion, a P/E ratio of 24.13 and a beta of 1.37. Crane NXT has a 12-month low of $41.54 and a 12-month high of $67.00.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. As a group, research analysts predict that Crane NXT will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. Crane NXT’s payout ratio is currently 25.95%.

Hedge Funds Weigh In On Crane NXT

A number of institutional investors have recently modified their holdings of CXT. Texas Permanent School Fund Corp grew its holdings in Crane NXT by 3.9% in the second quarter. Texas Permanent School Fund Corp now owns 63,911 shares of the company’s stock valued at $3,445,000 after purchasing an additional 2,399 shares during the period. Squarepoint Ops LLC purchased a new stake in Crane NXT in the second quarter valued at approximately $1,359,000. Thrivent Financial for Lutherans grew its holdings in Crane NXT by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,167,247 shares of the company’s stock valued at $62,915,000 after purchasing an additional 15,775 shares during the period. Hudson Bay Capital Management LP grew its holdings in Crane NXT by 1,004.8% in the second quarter. Hudson Bay Capital Management LP now owns 110,482 shares of the company’s stock valued at $5,955,000 after purchasing an additional 100,482 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Crane NXT by 261.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,873 shares of the company’s stock valued at $263,000 after purchasing an additional 3,524 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Company Profile

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.