Stifel Nicolaus Issues Pessimistic Forecast for Crane (NYSE:CR) Stock Price

Crane (NYSE:CR) had its target price dropped by equities research analysts at Stifel Nicolaus from $170.00 to $144.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the conglomerate’s stock. Stifel Nicolaus’ price target suggests a potential upside of 2.45% from the stock’s current price.

Several other research firms also recently weighed in on CR. DA Davidson reiterated a “buy” rating and issued a $200.00 target price on shares of Crane in a research note on Tuesday, March 11th. UBS Group increased their target price on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, StockNews.com cut Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $169.60.

Crane Price Performance

Shares of NYSE:CR opened at $140.55 on Monday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.93 and a beta of 1.31. The stock’s 50 day moving average is $156.99 and its 200-day moving average is $161.15. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $127.04 and a twelve month high of $188.52.

Crane (NYSE:CR) last posted its earnings results on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter in the previous year, the company posted $0.90 EPS. Sell-side analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Insider Transactions at Crane

In related news, VP Alejandro Alcala sold 2,293 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total value of $392,011.28. Following the sale, the vice president now owns 32,963 shares in the company, valued at approximately $5,635,354.48. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On Crane

Institutional investors and hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd bought a new stake in shares of Crane during the third quarter valued at approximately $515,000. Raymond James Financial Inc. purchased a new position in shares of Crane in the fourth quarter valued at $12,890,000. Rhumbline Advisers increased its position in Crane by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate’s stock worth $20,515,000 after purchasing an additional 2,953 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Crane by 2.7% in the 4th quarter. American Century Companies Inc. now owns 323,272 shares of the conglomerate’s stock valued at $49,057,000 after acquiring an additional 8,552 shares during the last quarter. Finally, Twelve Points Wealth Management LLC boosted its holdings in shares of Crane by 50.5% in the 4th quarter. Twelve Points Wealth Management LLC now owns 9,535 shares of the conglomerate’s stock worth $1,447,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.