Citigroup Forecasts Strong Price Appreciation for Crown (NYSE:CCK) Stock

Crown (NYSE:CCK) had its target price raised by research analysts at Citigroup from $110.00 to $111.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 38.28% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday. Wells Fargo & Company lowered their price target on Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Mizuho set a $110.00 target price on Crown in a research note on Friday, October 18th. Finally, Royal Bank of Canada increased their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.62.

Crown Trading Up 0.2 %

Shares of NYSE CCK opened at $80.27 on Monday. The business has a fifty day simple moving average of $88.54 and a 200-day simple moving average of $87.79. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 99.10, a P/E/G ratio of 1.95 and a beta of 0.86. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Sell-side analysts predict that Crown will post 6.34 EPS for the current year.

Insider Activity

In related news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Crown

A number of hedge funds have recently bought and sold shares of CCK. CIBC Asset Management Inc grew its holdings in Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares during the last quarter. Savant Capital LLC increased its position in Crown by 240.8% during the second quarter. Savant Capital LLC now owns 10,797 shares of the industrial products company’s stock worth $803,000 after acquiring an additional 7,629 shares during the period. Acadian Asset Management LLC acquired a new position in Crown during the 2nd quarter valued at $203,000. Oak Thistle LLC boosted its holdings in Crown by 118.4% in the 2nd quarter. Oak Thistle LLC now owns 10,498 shares of the industrial products company’s stock valued at $781,000 after purchasing an additional 5,692 shares during the period. Finally, Davis Selected Advisers acquired a new stake in Crown in the 2nd quarter worth $638,000. 90.93% of the stock is currently 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.