Crown (NYSE:CCK) PT Raised to $109.00 at Morgan Stanley

Crown (NYSE:CCK) had its target price increased by equities researchers at Morgan Stanley from $105.00 to $109.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target would indicate a potential upside of 11.51% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Loop Capital upped their price objective on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial increased their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Citigroup boosted their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, UBS Group lowered their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and an average target price of $104.69.

Crown Trading Up 4.2 %

Shares of CCK stock opened at $97.75 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The company’s 50-day moving average price is $91.66 and its 200-day moving average price is $84.45. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. As a group, equities analysts predict that Crown will post 6.15 earnings per share for the current year.

Insider Buying and Selling

In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction dated 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 of the company’s stock, 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 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 shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,506 shares of company stock valued at $3,392,349 in the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Crown

A number of hedge funds and other institutional investors have recently bought and sold shares of CCK. GAMMA Investing LLC boosted its position in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares in the last quarter. Mather Group LLC. acquired a new position in Crown in the first quarter valued at approximately $32,000. EntryPoint Capital LLC acquired a new position in Crown in the first quarter valued at approximately $41,000. Trivant Custom Portfolio Group LLC acquired a new stake in Crown during the first quarter worth approximately $43,000. Finally, Blue Trust Inc. lifted its position in shares of Crown by 172.6% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after buying an additional 385 shares during the last quarter. 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.