Crown Holdings, Inc. (NYSE:CCK) Receives $106.62 Average Price Target from Brokerages

Shares of Crown Holdings, Inc. (NYSE:CCK) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat.com 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 12 month target price among brokers that have updated their coverage on the stock in the last year is $106.62.

A number of brokerages recently issued reports on CCK. Citigroup raised their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Mizuho set a $110.00 price target on shares of Crown in a research note on Friday, October 18th. Wells Fargo & Company increased their price target on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley raised their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Barclays raised their price target on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 1,006 shares of the 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 transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares in the last quarter. Covestor Ltd grew its stake in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Crown during the 3rd quarter valued at about $44,000. Blue Trust Inc. increased its holdings in shares of Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after buying an additional 385 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in Crown during the 3rd quarter valued at $48,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Performance

Crown stock opened at $92.03 on Friday. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The stock’s 50 day simple moving average is $93.40 and its two-hundred day simple moving average is $87.24. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 113.61, a PEG ratio of 2.05 and a beta of 0.84. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, analysts expect that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Crown’s dividend payout ratio is presently 123.46%.

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.