Crown (NYSE:CCK) Given New $101.00 Price Target at Bank of America

Crown (NYSE:CCK) had its price target trimmed by Bank of America from $107.00 to $101.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

CCK has been the topic of a number of other research reports. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Loop Capital increased their target price on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley boosted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Mizuho set a $110.00 price objective on shares of Crown in a report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $105.38.

Crown Trading Down 0.6 %

Shares of Crown stock opened at $80.02 on Monday. The stock has a fifty day moving average price of $88.83 and a 200-day moving average price of $87.77. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The firm has a market cap of $9.57 billion, a PE ratio of 98.79, a P/E/G ratio of 1.95 and a beta of 0.86. Crown has a 1 year low of $69.61 and a 1 year high of $98.46.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating 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 analysts’ expectations of $3.07 billion. Equities research analysts anticipate that Crown will post 6.34 EPS for the current year.

Crown Announces Dividend

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

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction dated 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 owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, 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. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCK. GAMMA Investing LLC boosted its holdings 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 valued at $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd lifted its holdings 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 purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Crown in the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown in the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Crown during the third quarter valued at $55,000. 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.