Crown (NYSE:CCK) Price Target Raised to $112.00

Crown (NYSE:CCK) had its price target raised by Barclays from $100.00 to $112.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on CCK. Citigroup upped their target price on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Bank of America lifted their price objective on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a research note on Tuesday, September 24th. Wells Fargo & Company raised their target price on Crown from $88.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Loop Capital raised their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.2 %

Shares of NYSE CCK opened at $96.00 on Monday. The stock has a market capitalization of $11.59 billion, a P/E ratio of 27.66, a PEG ratio of 2.19 and a beta of 0.86. The business’s 50 day moving average is $92.25 and its two-hundred day moving average is $84.80. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 earnings per share. As a group, research analysts expect that Crown will post 6.15 EPS for the current year.

Insider Activity

In other Crown news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,506 shares of company stock worth $2,116,899. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Crown by 1.5% during the first quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after purchasing an additional 176,639 shares during the last quarter. Sessa Capital IM L.P. raised its stake in Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares during the period. William Blair Investment Management LLC grew its position in shares of Crown by 2.0% in the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after purchasing an additional 56,604 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Crown by 31.5% during the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after acquiring an additional 473,000 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Crown by 7.1% during the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after buying an additional 111,589 shares during the period. 90.93% of the stock is currently owned by institutional investors.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.