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Crane Holdings (CR) Soars 5.1%: Is Further Upside Left in the Stock?

Crane Holdings (CR) shares rallied 5.1% in the last trading session to close at $117.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.7% loss over the past four weeks.

The stock gained primarily on optimism surrounding easing supply chain disruptions and, reduction in raw material costs owing to deceleration in inflation.

This maker of engineered industrial products is expected to post quarterly earnings of $1.89 per share in its upcoming report, which represents a year-over-year change of +4.4%. Revenues are expected to be $808.77 million, up 1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Crane Holdings, the consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Crane Holdings is part of the Zacks Manufacturing - Material Handling industry. DISCO CORP (DSCSY), another stock in the same industry, closed the last trading session 1% lower at $63.85. DSCSY has returned 5.4% in the past month.

For DISCO CORP , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.69. This represents a change of +272.7% from what the company reported a year ago. DISCO CORP currently has a Zacks Rank of #4 (Sell).

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