Crown (NYSE:CCK) Cut to Hold at StockNews.com

Crown (NYSE:CCK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equities research analysts have also issued reports on CCK. Barclays increased their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Truist Financial lifted their price target on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday. Loop Capital upped their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Robert W. Baird raised their price objective on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Mizuho lowered their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average target price of $104.62.

Crown Stock Down 0.5 %

Shares of NYSE:CCK opened at $79.94 on Friday. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 98.69, a PEG ratio of 1.95 and a beta of 0.86. Crown has a 12-month low of $69.61 and a 12-month high of $98.46. The business has a 50-day moving average price of $88.23 and a 200 day moving average price of $87.74. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Sell-side analysts expect that Crown will post 6.34 EPS for the current year.

Insider Buying and Selling

In related 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 value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CCK. FMR LLC lifted its holdings in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Crown by 7.8% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares during the last quarter. State Street Corp increased its holdings in shares of Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares during the last quarter. Sessa Capital IM L.P. boosted its holdings in Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Crown by 4.2% in the third quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock worth $197,242,000 after acquiring an additional 82,764 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

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.