Crane Co. (CR) is Downgraded by UBS to Neutral, Raises Price Target to $ 57

Crane Co. (CR) was Downgraded by UBS to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 57 from a previous price target of $52 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Apr 27, 2016.

Many Wall Street Analysts have commented on Crane Co.. Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 56 from a previous price target of $48 .Seaport Global Securities Downgraded Crane Co. on Mar 9, 2016 to ” Accumulate”, Price Target of the shares are set at $54.

On the company’s financial health, Crane Co. reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.86. The company had revenue of $660.00 million for the quarter, compared to analysts expectations of $644.82 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Crane Co. opened for trading at $56.35 and hit $57.25 on the upside on Friday, eventually ending the session at $57.2, with a gain of 1.98% or 1.11 points. The heightened volatility saw the trading volume jump to 3,23,745 shares. Company has a market cap of $3,331 M.

In a different news, on Jan 29, 2016, Max H Mitchell (CEO) purchased 6,000 shares at $46.10 per share price. According to the SEC, on Nov 25, 2015, Edward S Switter (Vice President – Taxes) sold 3,975 shares at $52.57 per share price. On Oct 30, 2015, A D Pantaleoni (VP Envir. Health & Safety) sold 950 shares at $51.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Crane Co. (Crane) is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling which is a provider of engineered fluid handling equipment including valves pumps lined pipe and instrumentation for critical performance applications; Payment & Merchandising Technologies which is comprised of Crane Payment Innovations and Merchandising Systems; Aerospace & Electronics which has two groups: the Aerospace Group and the Electronics Group and Engineered Materials which manufactures fiberglass-reinforced plastic panels for the transportation industry RVs and industrial building applications among others. The Company’s markets are chemical and pharmaceutical processing oil and gas refining power nuclear building services and utilities automated payment and merchandising aerospace defense electronics recreational vehicle (RV) non-residential construction and transportation.

Crane Co.

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