Crane Co (NYSE:CR) reaching 52-week high, short interest surging

Crane Co (NYSE:CR) (Trend Analysis) shares were traded with more than 50% increase in usual volume. The stock closed last trading session at $68.25, up by 2.57%, with a volume of 478,955 shares against an average amount for the last three months of 233,869.

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Crane Co (NYSE:CR) stock is currently trading 1.09% below its 52-week-high, 63.75% above its 52-week-low. The 1-year stock price history is in the range of $41.68 – $69. Crane Co (CR) has a price to earnings ratio of 15.98 versus Industrial Goods sector average of 36.38. CR stock price has outperformed the S&P 500 by 41.3%. The Diversified Manufacturing company is currently valued at $3.99 billion, and its share price closed the last trading session at $68.25. The stock has a 50-day moving average of $62.94 and a 200-day moving average of $60.25.

Crane Co (CR) current short interest stands at 312.72 million shares. It has increased by 37% from the same period of last month. Around 630% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.34 million shares, the number of days required to cover the short positions stand at 913.4 days.

CR is forecasted to report earnings per share of $0.99 and a revenue of $662.5 million for the 4th Quarter of the fiscal year 2016. Crane Co (CR) declared last quarter earnings on October 24. The Diversified Manufacturing company announced last quarter earnings per share of $1.07 against a consensus Street estimate of $1.01, beating the average estimate by $0.06. The company posted a revenue of $694.2 million compared to an estimation of $669.4 million.

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There are currently twelve analysts that cover Crane Co stock. Of those twelve, five have a Buy rating, seven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $68.8.

A recent analyst activity consisted of Stifel reiterating their Hold stance on October 26. Stifel increased their price target on CR from $65 to $69. This corresponds to a 1.1% upside from the last closing price. On the date of report, the stock closed at $67.42.

BofA/Merrill Lynch upgraded their Underperform rating to Neutral on July 29. On the date of report, the stock closed at $61.98.

Another research firm was Topeka Capital who initiated their coverage on the stock with Buy rating on May 26. On the date of report, the stock closed at $57.05.

Company snapshot

Crane Co. manufactures engineered industrial products. The Company’s products include vending machines, airplane braking devices, pumps, valves, and other industrial goods. Crane serves the aerospace manufacturing, power generation, hydrocarbon processing, commercial and residential building, plumbing, and food and beverage production industries.

Crane Co (NYSE:CR) reaching 52-week high, short interest surging was last modified: November 8th, 2016 by Steven Finley