Crane stock shot up 12.4% Tuesday in heavy volume on strong earning. The highly ranked diversified manufacturer gave back part of that gain Wednesday but continues to trade well above all of its key averages.
Also on Wednesday, the Relative Strength (RS) Rating for Crane stock soared 11 points to 85, crossing above a key benchmark along the way. The upgraded 85 RS Rating puts Stamford, Conn.-based Crane in the top 15% of all stocks for price performance over the past year.
Earnings Surge Lifting Crane stock
Decades of market research shows that the best stocks often have an RS Rating above 80 in the early stages of their moves. Watchlist candidate Crane has joined that exclusive group. Crane also has a 91 EPS Rating out of 99, an 85 Composite Rating and a B- Accumulation/Distribution Rating. The B- rating shows that funds are fairly eager buyers of its stock.
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Late Monday afternoon Crane reported a 58% leap in earnings to $1.26 per share on 12% higher revenue at $544.1 million. Crane stock is trying to complete a cup without handle with a 188.52 buy point, its all-time high, set on Nov. 25. See if the stock can break out in heavy volume.
Crane launched its IPO in March 2023 and traded as low as 67.28 in mid-May as it formed its first base. Wednesday afternoon the aerospace play traded above 172, down for the day but up 160% from its post-IPO price.
Customer Demand Is Strong
CEO Max Mitchell commented in the earnings release that, "Demand trends remain strong within Aerospace & Electronics and we continue to outperform in Process Flow Technologies even as industrial demand signals remain mixed giving us confidence as we start 2025."
Crane is a leader in mission-critical aerospace components, as well as in defense and industrial manufacturing. Its products go into jet engines and landing gear, satellites, missiles and electronic countermeasure devices, among other things.
The company holds the No. 2 rank among its peers in the 20-stock Diversified Operations industry group. Emerson Electric is the top-ranked stock in the group.
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