Crown (NYSE:CCK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other equities analysts also recently weighed in on CCK. Truist Financial increased their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Robert W. Baird raised their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Citigroup upped their price target on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Barclays raised their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Price Performance

CCK stock opened at $81.21 on Thursday. The business has a 50 day simple moving average of $89.40 and a 200-day simple moving average of $87.58. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The company has a market capitalization of $9.72 billion, a P/E ratio of 100.26, 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 (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, equities analysts anticipate that Crown will post 6.34 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.23%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other Crown news, 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 value of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $2,381,875 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in 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 purchasing an additional 163 shares during the last quarter. Covestor Ltd raised its holdings in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Crown during the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC bought a new stake in shares of Crown during the third quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Crown during the third quarter worth about $55,000. Institutional investors own 90.93% of the company’s stock.

Crown Company Profile

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.