Crown (NYSE:CCK) Upgraded at StockNews.com

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

Other research analysts have also issued reports about the company. Wells Fargo & Company increased their target price on Crown from $88.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Citigroup increased their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Bank of America raised their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Crown in a report on Tuesday, September 24th. Finally, Morgan Stanley raised their target price on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Crown Stock Performance

CCK opened at $94.03 on Tuesday. The stock has a market cap of $11.35 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.19 and a beta of 0.86. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $91.10 and its 200 day simple moving average is $84.10. Crown has a 1-year low of $69.61 and a 1-year high of $96.74.

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

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 571,178 shares in the company, valued at approximately $53,119,554. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,506 shares of company stock worth $3,392,349 over the last three months. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Crown

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Crown in the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its position in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Mather Group LLC. acquired a new position in Crown during the 1st quarter worth approximately $32,000. Quarry LP boosted its holdings in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Crown in the 1st quarter valued at approximately $41,000. 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.