Loop Capital Raises Crown (NYSE:CCK) Price Target to $129.00

Crown (NYSE:CCK) had its price objective increased by Loop Capital from $120.00 to $129.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts also recently issued reports on the stock. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a research note on Tuesday, September 24th. Morgan Stanley increased their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Robert W. Baird increased their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Price Performance

NYSE CCK opened at $96.33 on Monday. The company has a 50 day moving average price of $91.87 and a two-hundred day moving average price of $84.59. Crown has a 12-month low of $69.61 and a 12-month high of $98.46. The stock has a market capitalization of $11.63 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping 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 company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous 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, equities analysts predict that Crown will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio is 28.82%.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. 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 this link. In other news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now owns 12,424 shares in the company, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,506 shares of company stock valued at $2,116,899 over the last 90 days. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crown

Several large investors have recently made changes to their positions in CCK. Mather Group LLC. bought a new position in Crown during the 1st quarter worth about $32,000. Trivant Custom Portfolio Group LLC bought a new stake in Crown in the 1st quarter valued at approximately $43,000. State of Michigan Retirement System boosted its position in Crown by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 29,400 shares of the industrial products company’s stock worth $2,330,000 after acquiring an additional 500 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Crown by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 449,670 shares of the industrial products company’s stock worth $35,641,000 after acquiring an additional 7,651 shares in the last quarter. Finally, TFC Financial Management Inc. raised its holdings in shares of Crown by 50.5% in the first quarter. TFC Financial Management Inc. now owns 1,385 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

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.