Crown (NYSE:CCK) PT Raised to $110.00

Crown (NYSE:CCK) had its price target increased by research analysts at Robert W. Baird from $100.00 to $110.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 14.39% from the company’s previous close.

Several other research firms have also recently commented on CCK. Mizuho set a $110.00 price target on shares of Crown in a report on Friday. Loop Capital lifted their price objective on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Bank of America upped their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group reduced their price target on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price target on Crown from $88.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Trading Down 0.2 %

Shares of NYSE CCK opened at $96.16 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. Crown has a one year low of $69.61 and a one year high of $98.46. The business has a 50-day moving average price of $92.07 and a two-hundred day moving average price of $84.72. The firm has a market capitalization of $11.61 billion, a PE ratio of 27.71, a PEG ratio of 2.19 and a beta of 0.86.

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

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,506 shares of company stock valued at $2,116,899 in the last quarter. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

A number of hedge funds and other institutional investors have recently made changes to their positions in CCK. Mutual of America Capital Management LLC raised its position in Crown by 10.3% in the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after purchasing an additional 14,362 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Crown in the 1st quarter worth approximately $6,854,000. Russell Investments Group Ltd. lifted its position in shares of Crown by 21.0% during the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after buying an additional 59,267 shares during the period. Entropy Technologies LP boosted its stake in Crown by 1,127.4% in the 1st quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company’s stock valued at $2,176,000 after buying an additional 25,219 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Crown by 16.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock valued at $8,163,000 after acquiring an additional 14,501 shares during the period. 90.93% of the stock is 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.