Wells Fargo & Company Raises Crown (NYSE:CCK) Price Target to $105.00

Crown (NYSE:CCK) had its target price upped by Wells Fargo & Company from $97.00 to $105.00 in a report issued on Monday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other research analysts also recently commented on CCK. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Loop Capital boosted their price objective on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America upped their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Robert W. Baird lifted their price target on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday. Finally, Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.2 %

CCK opened at $96.00 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The stock’s fifty day moving average is $92.25 and its two-hundred day moving average is $84.80. The company has a market capitalization of $11.59 billion, a P/E ratio of 27.66, a PEG ratio of 2.19 and a beta of 0.86. Crown has a 52 week low of $69.61 and a 52 week high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $1.68 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts forecast that Crown will post 6.15 earnings per share for the current year.

Insider Activity

In related news, Director James H. Miller sold 1,006 shares of Crown 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 sale, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 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 sale, the director now owns 12,424 shares in the company, 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 have sold a total of 23,506 shares of company stock worth $2,116,899 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in Crown by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 158 shares during the period. GAMMA Investing LLC boosted its stake in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the last quarter. Fifth Third Bancorp grew its holdings in Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 176 shares during the period. CIBC Asset Management Inc raised its position in Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 209 shares in the last quarter. Finally, OFI Invest Asset Management lifted its holdings in Crown by 2.2% in the second quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock valued at $782,000 after acquiring an additional 240 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.