Crown (NYSE:CCK) Stock Rating Upgraded by Morgan Stanley

Crown (NYSE:CCK) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $105.00 price objective on the industrial products company’s stock, down from their previous price objective of $109.00. Morgan Stanley’s target price would suggest a potential upside of 24.91% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. 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 note on Monday, October 21st. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Robert W. Baird boosted their price target on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.62.

Crown Trading Up 1.6 %

Shares of NYSE CCK opened at $84.06 on Monday. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $10.06 billion, a P/E ratio of 103.78, a PEG ratio of 1.95 and a beta of 0.86. The stock’s 50 day moving average price is $87.45 and its two-hundred day moving average price is $87.86.

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

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % 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 Trading of Crown

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd boosted its position in 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 acquiring an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in Crown during the 3rd quarter valued at about $44,000. Catalyst Capital Advisors LLC acquired a new position in shares of Crown in the 3rd quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Crown in the third quarter worth approximately $55,000. 90.93% of the stock is owned by institutional investors and hedge funds.

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.