ValuEngine Lowers Crane (NYSE:CR) to Sell

ValuEngine downgraded shares of Crane (NYSE:CR) from a hold rating to a sell rating in a research report sent to investors on Monday, ValuEngine reports.

Several other brokerages have also recently weighed in on CR. Zacks Investment Research upgraded Crane from a sell rating to a hold rating in a report on Friday, May 3rd. DA Davidson increased their target price on Crane from $105.00 to $107.00 and gave the company a buy rating in a report on Wednesday, July 24th. Buckingham Research increased their target price on Crane from $97.00 to $102.00 and gave the company a buy rating in a report on Wednesday, July 24th. Finally, UBS Group increased their target price on Crane from $90.00 to $100.00 and gave the company a buy rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $95.88.

CR opened at $83.70 on Monday. The business has a 50-day moving average price of $83.25. Crane has a 12-month low of $67.18 and a 12-month high of $100.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.17 and a quick ratio of 1.50. The stock has a market cap of $5.05 billion, a PE ratio of 13.40, a P/E/G ratio of 2.11 and a beta of 1.36.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 22nd. The conglomerate reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.03. Crane had a return on equity of 24.24% and a net margin of 10.67%. The firm had revenue of $841.60 million during the quarter, compared to analysts’ expectations of $833.30 million. During the same period in the prior year, the business earned $1.41 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts expect that Crane will post 6.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Saturday, August 31st will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 29th. Crane’s dividend payout ratio is presently 26.04%.

In other Crane news, VP James A. Lavish sold 650 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $86.36, for a total transaction of $56,134.00. Following the completion of the transaction, the vice president now owns 16,359 shares of the company’s stock, valued at approximately $1,412,763.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. L. Tullis purchased 1,000 shares of the stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $78.13 per share, with a total value of $78,130.00. Following the transaction, the director now directly owns 1,110 shares in the company, valued at $86,724.30. The disclosure for this purchase can be found here. Corporate insiders own 3.39% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Crane in the 2nd quarter worth approximately $25,000. Quadrant Capital Group LLC raised its position in shares of Crane by 563.5% in the 1st quarter. Quadrant Capital Group LLC now owns 345 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 293 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Crane in the 1st quarter worth approximately $47,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Crane in the 2nd quarter worth approximately $48,000. Finally, Exane Derivatives bought a new position in shares of Crane in the 2nd quarter worth approximately $83,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Analyst Recommendations for Crane (NYSE:CR)

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