Truist Financial Increases Crown (NYSE:CCK) Price Target to $103.00

Crown (NYSE:CCK) had its price objective boosted by Truist Financial from $95.00 to $103.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other research firms also recently weighed in on CCK. Citigroup boosted their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Barclays lifted their target price on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Crown in a research note on Tuesday, September 24th. Finally, Loop Capital lifted their price objective on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.07.

Crown Stock Performance

Shares of CCK opened at $93.80 on Tuesday. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth 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 $96.74. 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 has a 50 day moving average price of $91.42 and a 200 day moving average price of $84.23.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 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 firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the firm posted $1.68 EPS. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts predict that Crown will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now owns 571,178 shares in the company, valued at $53,119,554. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,506 shares of company stock valued at $3,392,349. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCK. Sessa Capital IM L.P. grew its stake in Crown by 153.0% in the 2nd 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 during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Crown in the first quarter valued at approximately $119,167,000. AQR Capital Management LLC raised its position in shares of Crown by 121.7% during the 2nd quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after purchasing an additional 404,250 shares during the last quarter. Metropolis Capital Ltd purchased a new stake in Crown in the 2nd quarter valued at approximately $29,291,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Crown during the 1st quarter valued at $29,981,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.