Crown (NYSE:CCK) Given New $86.00 Price Target at Wells Fargo & Company

Crown (NYSE:CCK) had its price target decreased by Wells Fargo & Company from $88.00 to $86.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 0.48% from the stock’s previous close.

Several other brokerages have also recently issued reports on CCK. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $109.00 to $105.00 in a report on Monday, January 13th. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research note on Friday, January 10th. Loop Capital increased their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their target price 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. Finally, Citigroup increased their price target on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.46.

Crown Stock Performance

Shares of CCK opened at $85.59 on Thursday. 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 has a 52-week low of $69.61 and a 52-week high of $98.46. The company has a 50-day simple moving average of $86.75 and a 200-day simple moving average of $87.97. The company has a market capitalization of $10.24 billion, a PE ratio of 105.66, a P/E/G ratio of 1.51 and a beta of 0.86.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (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 analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Equities research analysts predict that Crown will post 6.35 earnings per share for the current fiscal year.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the period. Covestor Ltd raised its holdings in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group acquired a new position in shares of Crown in the 3rd quarter valued at about $44,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown during the 3rd quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Crown during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds 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.