Crown’s (CCK) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Crown (NYSE:CCK)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $105.00 price objective on the industrial products company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 9.92% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Citigroup raised their price target on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Loop Capital lifted their price target on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price objective on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Finally, StockNews.com downgraded shares of Crown from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and an average price target of $101.14.

Crown Price Performance

CCK opened at $95.52 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $11.53 billion, a P/E ratio of 27.53, a PEG ratio of 2.13 and a beta of 0.85. The stock has a 50-day moving average price of $87.82 and a 200-day moving average price of $82.30. Crown has a 12-month low of $69.61 and a 12-month high of $95.72.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Equities analysts predict that Crown will post 6.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the sale, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its stake in Crown by 5.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,294 shares of the industrial products company’s stock valued at $856,000 after buying an additional 503 shares during the last quarter. UBS Group AG boosted its stake in Crown by 21.7% in the 4th quarter. UBS Group AG now owns 225,864 shares of the industrial products company’s stock worth $20,800,000 after purchasing an additional 40,318 shares in the last quarter. Wells Fargo & Company MN grew its position in Crown by 14.4% during the 4th quarter. Wells Fargo & Company MN now owns 165,255 shares of the industrial products company’s stock valued at $15,218,000 after purchasing an additional 20,830 shares during the last quarter. Quest Partners LLC purchased a new stake in Crown during the 4th quarter valued at about $34,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Crown by 1,644.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 41,537 shares of the industrial products company’s stock valued at $3,825,000 after purchasing an additional 39,156 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

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.