Crown Holdings, Inc. (NYSE:CCK) Receives $101.14 Consensus Target Price from Analysts

Shares of Crown Holdings, Inc. (NYSE:CCK) have received an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $101.14.

Several research analysts recently issued reports on CCK shares. Wells Fargo & Company lifted their target price on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Bank of America upped their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. UBS Group reduced their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Barclays increased their price objective on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th.

Crown Trading Up 1.4 %

NYSE CCK opened at $94.43 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. Crown has a 52 week low of $69.61 and a 52 week high of $94.46. The business has a 50 day moving average price of $87.08 and a 200-day moving average price of $81.95. The company has a market cap of $11.40 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.13 and a beta of 0.85.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 EPS. As a group, equities analysts expect that Crown will post 6.15 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at approximately $50,323,381.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,000 shares of company stock worth $2,598,675. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Crown by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 160 shares during the last quarter. Fifth Third Bancorp raised its stake in Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Crown by 3.7% during the first quarter. Verdence Capital Advisors LLC now owns 5,348 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 193 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.