Crown (NYSE:CCK) PT Raised to $97.00

Crown (NYSE:CCK) had its price target raised by research analysts at Wells Fargo & Company from $88.00 to $97.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 3.16% from the company’s current price.

A number of other brokerages also recently commented on CCK. UBS Group cut their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America increased their price target on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital raised their price target on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Truist Financial lifted their price target on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.07.

Crown Stock Performance

NYSE CCK opened at $94.03 on Tuesday. The company has a market capitalization of $11.35 billion, a PE ratio of 27.12, a P/E/G ratio of 2.19 and a beta of 0.86. Crown has a 1 year low of $69.61 and a 1 year high of $96.74. The company has a fifty day moving average of $91.10 and a two-hundred day moving average of $84.10. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73.

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

Insider Activity

In other news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction 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 directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This 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 valued at $3,392,349 over the last 90 days. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Crown by 1.5% during the first quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after purchasing an additional 176,639 shares during the last quarter. Sessa Capital IM L.P. increased its holdings in shares of Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Crown by 2.0% during the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock worth $224,020,000 after buying an additional 56,604 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after buying an additional 473,000 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in Crown by 7.1% during the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after acquiring an additional 111,589 shares during 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.