UBS Group Cuts Crown (NYSE:CCK) Price Target to $108.00

Crown (NYSE:CCK) had its price target lowered by UBS Group from $113.00 to $108.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup raised their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Loop Capital increased their price objective 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. Wells Fargo & Company reduced their price target on Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus price target of $105.92.

Crown Stock Performance

CCK opened at $78.84 on Friday. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 97.33, a PEG ratio of 1.95 and a beta of 0.86. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The company has a fifty day moving average of $87.66 and a 200 day moving average of $87.74.

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 company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. As a group, sell-side analysts forecast that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Crown’s dividend payout ratio is presently 123.46%.

Insider Transactions at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd raised its stake in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares during the period. Brooklyn Investment Group acquired a new stake in Crown in the 3rd quarter valued at $44,000. Catalyst Capital Advisors LLC purchased a new stake in Crown in the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown during the third quarter worth $55,000. Hedge funds and other 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.