Crane Company CR recently divested its Engineered Materials segment to KPS Capital Partners, LP (“KPS”) for $227 million. The deal was announced in December 2024.
KPS Capital manages the KPS Special Situations Funds. With approximately $21.4 billion in assets under management, the company focuses on controlling equity investments in manufacturing and industrial companies across diverse sectors. By partnering with talented management teams, KPS enhances business value through strategic improvements.
The divestment of the Engineered Materials segment will help Crane Company to focus on its core businesses while supporting its capital allocation priorities. It supports the company’s strategy to focus on two core growth areas: Aerospace & Electronics and Process Flow Technologies. Since the strategic separation in 2023, CR has continued to invest organically in its strategic growth platforms and has strengthened them further through acquisitions of Baum Lined Piping, Vian Enterprises, CryoWorks and Technifab Products.
Starting with the fourth quarter of 2024 results, CR will classify the Engineered Materials segment as discontinued operations. The company has also updated its adjusted earnings per diluted share (EPS) guidance for 2024. Crane Company now expects EPS to be in the range of $4.71-$4.86 compared with $5.05-$5.20 expected earlier. For the fourth quarter of 2024, adjusted EPS is anticipated to be in the band of $1.10-$1.25.
CR’s Zacks Rank and Price Performance
CR currently carries a Zacks Rank #4 (Sell). In the past year, the stock has gained 35.4% compared with the industry’s 11.8% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the same space are discussed below.
Graham Corporation GHM currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GHM delivered a trailing four-quarter average earnings surprise of 101.9%. In the past 60 days, the Zacks Consensus Estimate for Graham’s fiscal 2025 earnings has increased 8.4%.
Gates Industrial Corporation plc GTES currently carries a Zacks Rank #2 (Buy). GTES delivered a trailing four-quarter average earnings surprise of 11.8%.
In the past 60 days, the Zacks Consensus Estimate for Gates Industrial’s 2024 earnings has remained unchanged.
Generac Holdings Inc. GNRC presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 10.8%.
The Zacks Consensus Estimate for GNRC’s 2024 earnings has increased 0.6% in the past 60 days.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpGraham Corporation (GHM) : Free Stock Analysis Report
Crane Company (CR) : Free Stock Analysis Report
Generac Holdings Inc. (GNRC) : Free Stock Analysis Report
Gates Industrial Corporation PLC (GTES) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
