Crane Co. (CR) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 29, 2016.
Many Wall Street Analysts have commented on Crane Co.. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 63 from a previous price target of $57 .Alembic Global Advisors Initiated Crane Co. on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $61.Topeka Capital Markets Initiated Crane Co. on May 26, 2016 to “Buy”, Price Target of the shares are set at $62.
On the company’s financial health, Crane Co. reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $1.02. The company had revenue of $712.20 million for the quarter, compared to analysts expectations of $696.64 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS.
Crane Co. closed down -0.06 points or -0.10% at $61.95 with 3,79,648 shares getting traded on Thursday. Post opening the session at $61.82, the shares hit an intraday low of $61.46 and an intraday high of $62.2 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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 Companys 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.