Wells Fargo & Company Increases Crown (NYSE:CCK) Price Target to $105.00

Crown (NYSE:CCK) had its price target increased by investment analysts at Wells Fargo & Company from $97.00 to $105.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.19% from the company’s previous close.

A number of other analysts have also commented on CCK. UBS Group cut their price target on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Citigroup raised their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Crown in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Trading Down 0.2 %

CCK opened at $96.16 on Monday. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The firm has a market cap of $11.61 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The firm’s fifty day moving average is $92.07 and its two-hundred day moving average is $84.72.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Crown will post 6.15 EPS for the current year.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the transaction, the chief executive officer now owns 571,178 shares in the company, valued at approximately $53,119,554. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,506 shares of company stock worth $2,116,899. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in 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 buying an additional 163 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Crown during the 1st quarter valued at $32,000. EntryPoint Capital LLC bought a new stake in Crown during the 1st quarter worth $41,000. Trivant Custom Portfolio Group LLC acquired a new position in Crown in the 1st quarter worth about $43,000. Finally, Blue Trust Inc. boosted its stake in shares of Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares in the last quarter. 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.