Crown (NYSE:CCK) had its target price raised by BMO Capital Markets from $72.00 to $85.00 in a report published on Wednesday morning, The Fly reports. BMO Capital Markets currently has an outperform rating on the industrial products company’s stock.
CCK has been the subject of several other reports. Royal Bank of Canada boosted their price target on shares of Crown from $79.00 to $83.00 and gave the stock an outperform rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of Crown from $68.00 to $75.00 and gave the company an overweight rating in a research report on Thursday, September 26th. Deutsche Bank boosted their price objective on shares of Crown from $65.00 to $75.00 and gave the company a buy rating in a research report on Friday, October 18th. They noted that the move was a valuation call. Robert W. Baird reiterated an outperform rating and set a $75.00 price target (up previously from $65.00) on shares of Crown in a research report on Friday, September 20th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price target on shares of Crown from $56.00 to $72.00 and gave the company an equal weight rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $75.30.
NYSE CCK traded up $0.70 during trading hours on Wednesday, hitting $75.00. The company’s stock had a trading volume of 1,550,995 shares, compared to its average volume of 1,373,270. Crown has a 52 week low of $39.05 and a 52 week high of $78.29. The company has a market capitalization of $10.20 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.55. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 4.06. The company’s 50-day simple moving average is $67.53 and its two-hundred day simple moving average is $63.14.
Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.01). The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Crown had a return on equity of 41.91% and a net margin of 4.10%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 EPS. Research analysts anticipate that Crown will post 5.02 EPS for the current fiscal year.
In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $74.41, for a total transaction of $744,100.00. Following the completion of the sale, the chief operating officer now directly owns 152,292 shares of the company’s stock, valued at $11,332,047.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Hock Huat Goh sold 3,125 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $74.16, for a total value of $231,750.00. Following the completion of the sale, the insider now directly owns 42,423 shares of the company’s stock, valued at approximately $3,146,089.68. The disclosure for this sale can be found here. Insiders sold 26,250 shares of company stock worth $1,873,144 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC purchased a new stake in Crown during the 3rd quarter worth about $31,000. HM Payson & Co. purchased a new stake in Crown during the 2nd quarter worth about $31,000. Rockefeller Capital Management L.P. increased its position in Crown by 53.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 691 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 240 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in Crown during the 2nd quarter worth about $42,000. Finally, Whittier Trust Co. purchased a new stake in Crown during the 3rd quarter worth about $57,000. 96.32% of the stock is owned by institutional investors and hedge funds.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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