Price Don’t Lie: What Next for Crane Co. Stock After Making 52-Week High?

Price Don't Lie: What Next for Crane Co. Stock After Making 52 Week High?

The stock of Crane Co. (NYSE:CR) hit a new 52-week high and has $81.42 target or 9.00% above today’s $74.70 share price. The 9 months bullish chart indicates low risk for the $4.38 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $81.42 price target is reached, the company will be worth $394.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 44,726 shares traded hands. Crane Co. (NYSE:CR) has risen 31.10% since April 20, 2016 and is uptrending. It has outperformed by 26.55% the S&P500.

Crane Co. (NYSE:CR) Ratings Coverage

Out of 11 analysts covering Crane (NYSE:CR), 3 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 27% are positive. $70 is the highest target while $46 is the lowest. The $59.83 average target is -19.91% below today’s ($74.7) stock price. Crane has been the topic of 20 analyst reports since July 30, 2015 according to StockzIntelligence Inc. On Friday, July 29 the stock rating was upgraded by Bank of America to “Neutral”. The rating was initiated by Oppenheimer on Thursday, November 17 with “Perform”. RBC Capital Markets maintained the shares of CR in a report on Wednesday, October 28 with “Sector Perform” rating. On Wednesday, October 26 the stock rating was maintained by Stifel Nicolaus with “Hold”. The company was downgraded on Wednesday, March 9 by Seaport Global. The firm has “Outperform” rating by William Blair given on Tuesday, August 18. RBC Capital Markets maintained the shares of CR in a report on Wednesday, January 27 with “Sector Perform” rating. The stock has “Hold” rating given by Canaccord Genuity on Wednesday, October 26. The company was upgraded on Thursday, January 21 by Seaport Global. Susquehanna maintained the stock with “Neutral” rating in Wednesday, April 27 report.

According to Zacks Investment Research, “Crane Co. is a diversified manufacturer of highly engineered industrial products. Crane provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. The Company has five business segments: Aerospace & Electronics, Fluid Handling, Engineered Materials, Merchandising Systems, and Controls.”

Insitutional Activity: The institutional sentiment increased to 1.39 in 2016 Q2. Its up 0.17, from 1.22 in 2016Q1. The ratio increased, as 25 funds sold all Crane Co. shares owned while 76 reduced positions. 32 funds bought stakes while 91 increased positions. They now own 33.45 million shares or 9.63% less from 37.02 million shares in 2016Q1.
The United Kingdom-based Hsbc Pcl has invested 0% in Crane Co. (NYSE:CR). Oakbrook Investments Limited Liability Co reported 5,081 shares or 0.02% of all its holdings. Ftb Advsrs has 33 shares for 0% of their US portfolio. Employees Retirement Association Of Colorado, a Colorado-based fund reported 10,467 shares. Cornercap Inv Counsel Inc reported 9,825 shares or 0.11% of all its holdings. Credit Agricole S A accumulated 2,677 shares or 0% of the stock. Da Davidson And Com accumulated 3,037 shares or 0.01% of the stock. Trexquant Invest Lp, a Connecticut-based fund reported 12,053 shares. Citadel Advsr Ltd Liability Corporation holds 32,932 shares or 0% of its portfolio. Millennium Limited Liability Corp last reported 281,898 shares in the company. The Massachusetts-based Highvista Strategies Llc has invested 0.23% in Crane Co. (NYSE:CR). Cwm Limited Liability last reported 5 shares in the company. Price T Rowe Assocs Md has 15,042 shares for 0% of their US portfolio. Janus Cap Limited Liability Corp reported 4,100 shares or 0% of all its holdings. Swiss Natl Bank, a Switzerland-based fund reported 76,600 shares.

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 9 selling transactions for $3.12 million net activity. PANTALEONI A D had sold 5,000 shares worth $313,712 on Tuesday, August 2. Switter Edward S sold $385,271 worth of stock or 6,537 shares. $190,088 worth of shares were sold by TULLIS JAMES L L on Tuesday, November 1. Craney Thomas J also sold $5,845 worth of Crane Co. (NYSE:CR) shares. On Monday, August 15 LOCHNER PHILIP R sold $259,580 worth of the stock or 4,000 shares. ELLIS BRADLEY sold $651,397 worth of Crane Co. (NYSE:CR) on Friday, August 19. The insider BIGELOW E THAYER sold $259,852.

Another recent and important Crane Co. (NYSE:CR) news was published by Businesswire.com which published an article titled: “Crane Co. Reports Third Quarter Results” on October 24, 2016.

CR Company Profile

Crane Co. (Crane), incorporated on April 3, 1985, is a diversified maker of engineered industrial products. The Firm operates in four divisions: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Company’s markets are chemicals, power, gas and oil, aerospace and defense, along with a range of general industrial and consumer related end markets.

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