Crown (NYSE:CCK) Price Target Raised to $97.00

Crown (NYSE:CCKGet Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $88.00 to $97.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.05% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on CCK. Citigroup upped their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a report on Tuesday, September 24th. StockNews.com cut Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Barclays raised their price objective on Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Loop Capital increased their price target on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.07.

Check Out Our Latest Stock Report on Crown

Crown Trading Down 0.3 %

Shares of NYSE CCK traded down $0.24 during trading hours on Tuesday, hitting $93.22. The company’s stock had a trading volume of 29,665 shares, compared to its average volume of 1,123,243. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.19 and a beta of 0.86. Crown has a 12 month low of $69.61 and a 12 month high of $96.74. The business has a 50-day simple moving average of $90.76 and a 200-day simple moving average of $83.89. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

Crown (NYSE:CCKGet Free Report) last issued its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm earned $1.68 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Crown will post 6.15 earnings per share for the current fiscal year.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Crown news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,506 shares of company stock valued at $3,392,349. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crown

Hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its position in Crown by 10.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock valued at $12,185,000 after purchasing an additional 14,362 shares during the period. Vanguard Group Inc. boosted its position in Crown by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after purchasing an additional 173,460 shares in the last quarter. Empowered Funds LLC purchased a new position in Crown in the first quarter valued at about $6,854,000. Russell Investments Group Ltd. lifted its position in shares of Crown by 21.0% during the first quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock valued at $27,045,000 after buying an additional 59,267 shares during the last quarter. Finally, Entropy Technologies LP raised its stake in shares of Crown by 1,127.4% during the 1st quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company’s stock worth $2,176,000 after acquiring an additional 25,219 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Company Profile

(Get Free Report)

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.

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