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

Crown (NYSE:CCK) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research analysts also recently commented on the company. Loop Capital lifted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial upped their price target on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday. Mizuho reduced their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird raised their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Bank of America reduced their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $104.62.

Crown Trading Down 0.5 %

NYSE CCK opened at $79.94 on Friday. The stock’s 50 day moving average price is $88.23 and its two-hundred day moving average price is $87.74. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 98.69, a PEG ratio of 1.95 and a beta of 0.86.

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

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCK. Sessa Capital IM L.P. grew its holdings in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after purchasing an additional 1,989,374 shares during the period. Metropolis Capital Ltd grew its stake in shares of Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after buying an additional 1,062,001 shares during the period. Jennison Associates LLC grew its stake in shares of Crown by 125.0% in the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after buying an additional 751,530 shares during the period. FMR LLC raised its stake in Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after buying an additional 749,085 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after acquiring an additional 473,000 shares in the last quarter. Institutional investors and hedge funds 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.