Crown (NYSE:CCK) Rating Lowered to Hold at StockNews.com

Crown (NYSE:CCK) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other research firms have also commented on CCK. Citigroup upped their price objective on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Robert W. Baird raised their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Truist Financial lifted their price target on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Performance

Shares of NYSE CCK opened at $83.17 on Wednesday. The company has a 50 day simple moving average of $91.01 and a two-hundred day simple moving average of $87.53. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 102.68, a PEG ratio of 1.95 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown has a 12 month low of $69.61 and a 12 month high of $98.46.

Crown (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, analysts predict that Crown will post 6.34 earnings per share for the current year.

Insider Transactions at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the sale, the chief executive officer now directly owns 571,178 shares in the company, valued at approximately $53,119,554. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $2,381,875 in the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Crown by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 1,208,711 shares of the industrial products company’s stock valued at $89,916,000 after purchasing an additional 46,871 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Crown by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,618 shares of the industrial products company’s stock worth $6,146,000 after acquiring an additional 6,654 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Crown by 6.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,193 shares of the industrial products company’s stock valued at $684,000 after acquiring an additional 586 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Crown by 87.9% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 112,585 shares of the industrial products company’s stock valued at $8,375,000 after acquiring an additional 52,676 shares during the period. Finally, iA Global Asset Management Inc. purchased a new stake in Crown during the second quarter worth about $147,000. Institutional investors and hedge funds 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.