Crane NXT (NYSE:CXT) Sets New 52-Week Low – Time to Sell?

Crane NXT, Co. (NYSE:CXT)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $39.65 and last traded at $39.7020, with a volume of 225477 shares changing hands. The stock had previously closed at $41.15.

Wall Street Analyst Weigh In

CXT has been the subject of a number of research reports. Northland Securities set a $62.00 target price on shares of Crane NXT in a research report on Wednesday, February 18th. Zacks Research upgraded shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Robert W. Baird set a $73.00 price target on shares of Crane NXT in a research note on Friday, February 13th. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.60.

Crane NXT Stock Down 3.7%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 1.50. The firm has a market capitalization of $2.28 billion, a PE ratio of 15.78 and a beta of 1.18. The company has a fifty day moving average price of $48.69 and a 200-day moving average price of $54.75.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The firm had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. During the same period last year, the firm posted $1.20 earnings per share. Crane NXT’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.8%. Crane NXT’s payout ratio is presently 28.69%.

Institutional Investors Weigh In On Crane NXT

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted 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 period. Camelot Portfolios LLC bought a new stake in Crane NXT in the fourth quarter worth $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 buying an additional 535 shares during the last quarter. Quent Capital LLC purchased a new position in Crane NXT during the third quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Crane NXT during the third quarter worth $31,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Company Profile

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.