AltaCorp Capital Reaffirms Buy Rating for Crane (CR)
A number of other brokerages have also recently commented on CR. Stifel Nicolaus reaffirmed a hold rating and set a $99.00 price objective (up previously from $87.00) on shares of Crane in a research note on Tuesday. ValuEngine raised shares of Crane from a hold rating to a buy rating in a research note on Sunday, December 31st. Bank of America raised their price objective on shares of Crane from $90.00 to $104.00 and gave the stock a buy rating in a research note on Wednesday, October 25th. Oppenheimer reaffirmed a buy rating and set a $92.00 price objective (up previously from $88.00) on shares of Crane in a research note on Wednesday, October 25th. Finally, Wolfe Research cut shares of Crane from an outperform rating to a market perform rating in a research note on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $95.83.
Crane (NYSE:CR) traded up $0.93 on Monday, reaching $93.23. 175,400 shares of the company’s stock were exchanged, compared to its average volume of 242,664. Crane has a 12 month low of $67.62 and a 12 month high of $93.59. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. The stock has a market cap of $5,477.99, a price-to-earnings ratio of 41.81, a PEG ratio of 1.85 and a beta of 1.17.
In related news, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the sale, the director now owns 2,110 shares of the company’s stock, valued at approximately $171,838.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Augustus I. Dupont sold 3,556 shares of Crane stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $83.89, for a total transaction of $298,312.84. Following the completion of the sale, the vice president now directly owns 80,560 shares in the company, valued at approximately $6,758,178.40. The disclosure for this sale can be found here. Insiders sold a total of 22,403 shares of company stock worth $1,896,288 in the last three months. 3.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC grew its stake in Crane by 33.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Crane by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 140 shares during the period. Howe & Rusling Inc. grew its stake in Crane by 88.5% in the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after acquiring an additional 1,057 shares during the period. ClariVest Asset Management LLC grew its stake in Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares during the period. Finally, Fruth Investment Management acquired a new stake in Crane in the 4th quarter valued at $205,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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