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Here's Why You Hold Onto Crane Holdings (CR) Stock for Now
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Crane Holdings Co. (CR - Free Report) stands to gain from strength across its diverse end markets, including general industrial, chemical, pharmaceutical markets, commercial aerospace and commercial aftermarket despite inflationary pressures, pandemic impacts and supply-chain disturbances. Also, Crane Holdings’ improving order trends, efforts to develop products, investment in technology and a focus on commercial excellence are likely to drive its performance in the near term.
Divestment of non-core assets or businesses is advantageous for Crane Holdings. Its divestiture of Redco Corporation in August 2022 allows CR to focus more on its core business areas. By removing all asbestos-related liabilities and obligations from Crane Holdings’ balance sheet, the transaction will increase its annual free cash flow, aiding in long-term value creation for its stakeholders.
Crane Holdings also has a solid policy of rewarding its shareholders through dividend payments and share repurchases. In the first six months of 2022, CR used $53.1 million for paying out dividends and $202.7 million for repurchasing shares. Its quarterly dividend rate was hiked 9% in January 2022. In April 2022, CR completed the previously announced share buyback program of $300 million.
In light of the above-mentioned positives, we believe, investors should retain Crane Holdings’ stock for now, as is suggested by its current Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked companies from the industrial products sector are discussed below:
AIT’s earnings estimates have increased 6.7% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have rallied 7.7% in the past six months.
Greif, Inc. (GEF - Free Report) presently has a Zacks Rank #2 (Buy). GEF delivered a trailing four-quarter earnings surprise of 22.4%, on average.
GEF’s earnings estimates have increased 4.6% for fiscal 2022 (ending October 2022) in the past 60 days. Its shares have risen 14.9% in the past six months.
Valmont Industries, Inc. (VMI - Free Report) presently has a Zacks Rank of 2. VMI’s earnings surprise in the last four quarters was 13.7%, on average.
In the past 60 days, Valmont’s earnings estimates have increased 3.8% for 2022. The stock has rallied 26.2% in the past six months.
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Here's Why You Hold Onto Crane Holdings (CR) Stock for Now
Crane Holdings Co. (CR - Free Report) stands to gain from strength across its diverse end markets, including general industrial, chemical, pharmaceutical markets, commercial aerospace and commercial aftermarket despite inflationary pressures, pandemic impacts and supply-chain disturbances. Also, Crane Holdings’ improving order trends, efforts to develop products, investment in technology and a focus on commercial excellence are likely to drive its performance in the near term.
Divestment of non-core assets or businesses is advantageous for Crane Holdings. Its divestiture of Redco Corporation in August 2022 allows CR to focus more on its core business areas. By removing all asbestos-related liabilities and obligations from Crane Holdings’ balance sheet, the transaction will increase its annual free cash flow, aiding in long-term value creation for its stakeholders.
Crane Holdings also has a solid policy of rewarding its shareholders through dividend payments and share repurchases. In the first six months of 2022, CR used $53.1 million for paying out dividends and $202.7 million for repurchasing shares. Its quarterly dividend rate was hiked 9% in January 2022. In April 2022, CR completed the previously announced share buyback program of $300 million.
Crane Holdings, Co. Price and Consensus
Crane Holdings, Co. price-consensus-chart | Crane Holdings, Co. Quote
In light of the above-mentioned positives, we believe, investors should retain Crane Holdings’ stock for now, as is suggested by its current Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked companies from the industrial products sector are discussed below:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently sports a Zacks Rank #1 (Strong Buy). AIT delivered a trailing four-quarter earnings surprise of 22.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 6.7% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have rallied 7.7% in the past six months.
Greif, Inc. (GEF - Free Report) presently has a Zacks Rank #2 (Buy). GEF delivered a trailing four-quarter earnings surprise of 22.4%, on average.
GEF’s earnings estimates have increased 4.6% for fiscal 2022 (ending October 2022) in the past 60 days. Its shares have risen 14.9% in the past six months.
Valmont Industries, Inc. (VMI - Free Report) presently has a Zacks Rank of 2. VMI’s earnings surprise in the last four quarters was 13.7%, on average.
In the past 60 days, Valmont’s earnings estimates have increased 3.8% for 2022. The stock has rallied 26.2% in the past six months.