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

Robert W. Baird began coverage on shares of Crane NXT (NYSE:CXT) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage issued an outperform rating and a $77.00 price target on the stock.

Several other research firms have also weighed in on CXT. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities dropped their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th.

Crane NXT Stock Performance

CXT opened at $58.21 on Thursday. The firm has a market cap of $3.33 billion, a P/E ratio of 18.36 and a beta of 1.32. Crane NXT has a 52-week low of $48.42 and a 52-week high of $64.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The business’s fifty day moving average is $56.80 and its 200-day moving average is $59.27.

Crane NXT (NYSE:CXT) last released its quarterly earnings data 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 business had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. Crane NXT’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Sell-side analysts expect that Crane NXT will post 4.28 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. Crane NXT’s dividend payout ratio (DPR) is 20.19%.

Hedge Funds Weigh In On Crane NXT

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in Crane NXT in the first quarter worth approximately $38,000. nVerses Capital LLC bought a new stake in Crane NXT in the third quarter worth approximately $45,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT in the second quarter worth approximately $52,000. Blue Trust Inc. increased its holdings in Crane NXT by 27.8% in the second 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. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Crane NXT by 154.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock worth $100,000 after purchasing an additional 984 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

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.