Crown (NYSE:CCK – Get Free Report) had its price objective decreased by equities research analysts at Truist Financial from $117.00 to $100.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price points to a potential upside of 33.40% from the company’s current price.
Other equities research analysts have also issued reports about the company. Wells Fargo & Company decreased their price target on Crown from $93.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday. StockNews.com raised Crown from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective on the stock in a report on Wednesday. Barclays reduced their price objective on Crown from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, UBS Group assumed coverage on Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.
Crown Price Performance
Shares of CCK stock traded down $1.71 during trading hours on Wednesday, hitting $74.96. The company had a trading volume of 2,629,001 shares, compared to its average volume of 1,207,469. Crown has a 12 month low of $69.61 and a 12 month high of $96.35. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.66 and a beta of 0.96. The firm’s fifty day moving average is $90.00 and its 200 day moving average is $87.69. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.70 and a current ratio of 1.13.
Crown (NYSE:CCK – Get Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.96 billion. Crown had a return on equity of 26.21% and a net margin of 3.75%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share. On average, sell-side analysts predict that Crown will post 6.64 EPS for the current fiscal year.
Insider Activity
In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $90.96, for a total transaction of $682,200.00. Following the completion of the transaction, the chief executive officer now owns 651,264 shares in the company, valued at approximately $59,238,973.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Crown
A number of large investors have recently added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. grew its holdings in shares of Crown by 12.2% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 37,111 shares of the industrial products company’s stock valued at $3,418,000 after acquiring an additional 4,023 shares in the last quarter. Versor Investments LP bought a new position in shares of Crown in the 4th quarter valued at about $295,000. Jupiter Wealth Management LLC grew its holdings in shares of Crown by 5.7% in the 4th quarter. Jupiter Wealth Management LLC now owns 44,182 shares of the industrial products company’s stock valued at $4,069,000 after acquiring an additional 2,400 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Crown by 14.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 145 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Crown by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,624 shares of the industrial products company’s stock valued at $70,783,000 after acquiring an additional 19,242 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.
Crown Company Profile
Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.