Crane Co. (CR) is Initiated by Alembic Global Advisors to Neutral, Price Target at $61

Crane Co. (CR) was Initiated by Alembic Global Advisors to “Neutral” and the brokerage firm has set the Price Target at $61. Alembic Global Advisors advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Crane Co.. Topeka Capital Markets Initiated Crane Co. on May 26, 2016 to “Buy”, Price Target of the shares are set at $62.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 .Company shares were Downgraded by UBS on Apr 27, 2016 to ” Neutral”, Firm has raised the Price Target to $ 57 from a previous price target of $52 .

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 $56.54 and hit $57.2 on the upside on Friday, eventually ending the session at $57.14, with a gain of 2.60% or 1.45 points. The heightened volatility saw the trading volume jump to 1,53,290 shares. Company has a market cap of $3,331 M.

In a different news, on May 26, 2016, Edward S Switter (Vice President – Taxes) purchased 243 shares at $0.00 per share price. According to the SEC, on May 23, 2016, Augustus I Dupont (V.P., Gen. Couns. & Sec.) sold 4,000 shares at $54.88 per share price. On May 13, 2016, Curtis A Jr Baron (Vice President, Controller) sold 5,242 shares at $55.33 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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