Crown (NYSE:CCK) PT Raised to $109.00 at Morgan Stanley

Crown (NYSE:CCK) had its price objective lifted by research analysts at Morgan Stanley from $105.00 to $109.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective indicates a potential upside of 13.35% from the stock’s current price.

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

Crown Stock Performance

NYSE:CCK opened at $96.16 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average price of $92.07 and a 200 day moving average price of $84.72. The firm has a market capitalization 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. Crown has a 12-month low of $69.61 and a 12-month high of $98.46.

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

Insider Activity

In other news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,506 shares of company stock valued at $2,116,899. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 163 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Crown in the first quarter valued at $32,000. EntryPoint Capital LLC bought a new position in shares of Crown during the 1st quarter worth $41,000. Trivant Custom Portfolio Group LLC purchased a new stake in Crown in the 1st quarter worth about $43,000. Finally, Blue Trust Inc. raised its stake in Crown by 172.6% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 385 shares during the period. Institutional investors own 90.93% of the company’s stock.

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.