Crane NXT (NYSE:CXT) Upgraded to “Strong-Buy” at Jefferies Financial Group

Crane NXT (NYSE:CXT) was upgraded by research analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Several other brokerages have also recently issued reports on CXT. DA Davidson reissued a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Friday, September 18th. Northland Securities set a $65.00 target price on Crane NXT in a research report on Monday, August 10th. Weiss Ratings raised Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Robert W. Baird set a $68.00 target price on Crane NXT in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $66.83.

Crane NXT Price Performance

Crane NXT stock opened at $48.50 on Tuesday. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 20.04 and a beta of 1.08. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.07. Crane NXT has a 1 year low of $35.71 and a 1 year high of $69.00. The firm has a 50-day moving average of $50.65 and a two-hundred day moving average of $46.07.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, August 5th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $493.20 million for the quarter, compared to the consensus estimate of $475.62 million. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, research analysts forecast that Crane NXT will post 4.27 earnings per share for the current year.

Hedge Funds Weigh In On Crane NXT

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Crane NXT during the 2nd quarter valued at $329,797,000. Dimensional Fund Advisors LP raised its position in shares of Crane NXT by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,930,800 shares of the company’s stock worth $78,366,000 after acquiring an additional 214,857 shares in the last quarter. Southernsun Asset Management LLC raised its position in shares of Crane NXT by 17.3% in the 1st quarter. Southernsun Asset Management LLC now owns 783,808 shares of the company’s stock worth $31,815,000 after acquiring an additional 115,598 shares in the last quarter. Norges Bank purchased a new stake in shares of Crane NXT during the 4th quarter worth $30,057,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Crane NXT during the 2nd quarter worth $23,160,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Company Profile

Crane NXT, Inc is a technology company that develops solutions for payment acceptance, cash management and brand protection. Its products are used by businesses and governments to authenticate currency, process transactions and protect products and documents from counterfeiting.

Through its Crane Payment Innovations business, the company provides banknote and coin validators, cashless payment systems, transaction-processing technology, telemetry and related software. These solutions serve industries such as vending, gaming, retail, transportation and other unattended-payment markets.

Crane NXT also operates Crane Currency, which supplies banknotes, security features and authentication technologies for central banks, commercial institutions and other organizations.