Northland Securities Lowers Crane NXT (NYSE:CXT) Price Target to $85.00

Crane NXT (NYSE:CXT) had its target price lowered by investment analysts at Northland Securities from $96.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would indicate a potential upside of 58.20% from the company’s current price.

Separately, DA Davidson reaffirmed a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th.

Crane NXT Trading Down 1.2 %

Shares of CXT stock opened at $53.73 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The firm has a market cap of $3.07 billion, a P/E ratio of 16.95 and a beta of 1.32. The company has a 50 day moving average of $57.30 and a 200-day moving average of $59.60. Crane NXT has a 12-month low of $48.42 and a 12-month high of $64.80.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The business had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. During the same period last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Crane NXT will post 4.28 earnings per share for the current year.

Institutional Trading of Crane NXT

Institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new stake in shares of Crane NXT during the first quarter valued at about $38,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT during the 2nd quarter worth approximately $52,000. Blue Trust Inc. lifted its stake in Crane NXT by 27.8% in the 2nd 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. Benjamin F. Edwards & Company Inc. boosted its holdings in Crane NXT by 154.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock valued at $100,000 after purchasing an additional 984 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Crane NXT by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other 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.