Crown Holdings, Inc. (NYSE:CCK) Given Average Rating of “Moderate Buy” by Analysts

Crown Holdings, Inc. (NYSE:CCK) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $99.29.

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price target on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Loop Capital increased their price target on shares of Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley began coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target on the stock.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now owns 616,178 shares in the company, valued at $52,486,042.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the transaction, the director now directly owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. Insiders have sold a total of 39,000 shares of company stock valued at $3,300,420 over the last three months. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC purchased a new stake in shares of Crown in the fourth quarter worth $26,000. Rise Advisors LLC purchased a new stake in Crown during the 1st quarter valued at about $27,000. Quest Partners LLC bought a new stake in Crown during the 4th quarter valued at about $34,000. Mather Group LLC. purchased a new position in Crown in the first quarter worth about $32,000. Finally, Quarry LP lifted its stake in shares of Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after buying an additional 276 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Down 0.8 %

CCK opened at $72.60 on Thursday. The company has a market capitalization of $8.77 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The business has a 50-day moving average of $81.12 and a 200-day moving average of $81.90.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The business’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts forecast that Crown will post 5.93 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. Crown’s payout ratio is presently 28.82%.

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.