Crown (NYSE:CCK) Upgraded to “Buy” at StockNews.com

Crown (NYSE:CCK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Citigroup upped their price target on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Bank of America cut their price target on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Truist Financial increased their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.46.

Crown Price Performance

Shares of NYSE CCK opened at $85.59 on Friday. 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 has a one year low of $69.61 and a one year high of $98.46. The firm has a market capitalization of $10.24 billion, a P/E ratio of 105.66, a PEG ratio of 1.51 and a beta of 0.86. The company’s fifty day moving average is $86.75 and its two-hundred day moving average is $87.97.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Analysts forecast that Crown will post 6.35 EPS for the current fiscal year.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

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

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.