Crown (NYSE:CCK) Price Target Raised to $109.00 at Morgan Stanley

Crown (NYSE:CCK) had its price target raised by equities researchers at Morgan Stanley from $105.00 to $109.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target would suggest a potential upside of 13.35% from the company’s current price.

Several other analysts have also recently weighed in on CCK. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company lifted their target price on shares of Crown from $88.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. 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 research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Crown in a research report on Tuesday, September 24th. Finally, Truist Financial upped their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Three 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Price Performance

Shares of NYSE:CCK opened at $96.16 on Monday. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. 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 cap of $11.61 billion, a P/E ratio of 27.71, a P/E/G ratio of 2.19 and a beta of 0.86. The company has a 50 day moving average of $92.07 and a 200 day moving average of $84.72.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.06 billion. During the same period in the previous year, the business posted $1.68 earnings per share. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Crown will post 6.15 EPS for the current fiscal year.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,506 shares of company stock worth $2,116,899. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CCK. Vanguard Group Inc. boosted its holdings in shares of Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after buying an additional 176,639 shares in the last quarter. Sessa Capital IM L.P. boosted its stake in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Crown by 2.0% in the first quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock worth $224,020,000 after purchasing an additional 56,604 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Crown by 31.5% during the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after purchasing an additional 473,000 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Crown by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock valued at $124,808,000 after purchasing an additional 111,589 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.