Analysts Set Crane NXT, Co. (NYSE:CXT) Target Price at $71.60
by Danessa Lincoln · The Markets DailyShares of Crane NXT, Co. (NYSE:CXT – Get Free Report) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $71.60.
CXT has been the subject of several recent analyst reports. UBS Group set a $58.00 price objective on shares of Crane NXT in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. DA Davidson reaffirmed a “buy” rating and issued a $85.00 target price on shares of Crane NXT in a research note on Tuesday, February 17th. Northland Securities set a $62.00 price objective on shares of Crane NXT in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd.
View Our Latest Analysis on CXT
Institutional Investors Weigh In On Crane NXT
A number of institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Crane NXT by 141.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Crane NXT during the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its position in Crane NXT by 4,458.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company’s stock worth $26,000 after purchasing an additional 535 shares during the period. Quent Capital LLC bought a new position in Crane NXT during the third quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Crane NXT during the 3rd quarter valued at about $31,000. 77.49% of the stock is currently owned by institutional investors.
Crane NXT Stock Down 0.1%
Shares of NYSE CXT opened at $40.15 on Friday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 15.99 and a beta of 1.21. Crane NXT has a 1 year low of $39.23 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20. The business has a 50-day moving average of $47.56 and a two-hundred day moving average of $54.08.
Crane NXT (NYSE:CXT – Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The firm had revenue of $476.90 million for the quarter, compared to the consensus estimate of $450.53 million. During the same quarter last year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts forecast that Crane NXT will post 4.16 earnings per share for the current fiscal year.
Crane NXT Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Saturday, February 28th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.8%. Crane NXT’s dividend payout ratio is presently 28.69%.
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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.