Crown (NYSE:CCK) Price Target Raised to $111.00 at Citigroup

Crown (NYSE:CCK) had its price objective hoisted by Citigroup from $110.00 to $111.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

CCK has been the topic of several other reports. Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Loop Capital lifted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Robert W. Baird boosted their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Barclays raised their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.38.

Crown Stock Down 0.6 %

Crown stock opened at $80.02 on Monday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 98.79, a P/E/G ratio of 1.95 and a beta of 0.86. The firm has a fifty day moving average price of $88.83 and a two-hundred day moving average price of $87.77. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

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

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. Crown’s dividend payout ratio is 123.46%.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Several hedge funds have recently modified their holdings of CCK. GAMMA Investing LLC lifted its holdings in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd lifted its stake in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group bought a new position in Crown in the third quarter valued at about $44,000. Catalyst Capital Advisors LLC acquired a new stake in Crown in the third quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown during the 3rd quarter worth about $55,000. 90.93% of the stock is owned by institutional investors.

Crown Company Profile

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.