Crane NXT (NYSE:CXT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Crane NXT (NYSE:CXT) had its price objective boosted by Robert W. Baird from $77.00 to $78.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 37.03% from the company’s previous close.

Several other equities research analysts have also weighed in on CXT. Northland Securities dropped their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Finally, DA Davidson reiterated a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th.

Crane NXT Stock Down 0.2 %

Shares of NYSE CXT opened at $56.92 on Friday. The firm has a fifty day simple moving average of $56.17 and a two-hundred day simple moving average of $58.75. The firm has a market capitalization of $3.25 billion, a PE ratio of 18.13 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. Crane NXT has a 12 month low of $49.40 and a 12 month high of $64.80.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. Crane NXT’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Equities analysts expect that Crane NXT will post 4.27 earnings per share for the current year.

Hedge Funds Weigh In On Crane NXT

A number of hedge funds have recently bought and sold shares of CXT. Victory Capital Management Inc. increased its stake in Crane NXT by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock valued at $68,372,000 after purchasing an additional 33,664 shares in the last quarter. Pacer Advisors Inc. lifted its position in Crane NXT by 93.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after acquiring an additional 548,155 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Crane NXT by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock valued at $66,626,000 after purchasing an additional 33,460 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Crane NXT by 18.3% in the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after purchasing an additional 114,707 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Crane NXT by 40.0% in the first quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after purchasing an additional 186,437 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

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.