Crown (NYSE:CCK) Lowered to “Hold” Rating by StockNews.com

Crown (NYSE:CCK) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Bank of America dropped their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on Crown from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Citigroup boosted their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $105.46.

Crown Stock Performance

Shares of NYSE CCK traded down $0.73 during midday trading on Tuesday, hitting $88.81. 1,226,925 shares of the company’s stock traded hands, compared to its average volume of 1,244,454. The firm has a fifty day moving average of $86.25 and a 200 day moving average of $88.90. Crown has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 109.64, a price-to-earnings-growth ratio of 1.68 and a beta of 0.86.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Hedge funds and other institutional investors have recently made changes to their positions in the business. MBB Public Markets I LLC purchased a new stake in Crown in the 2nd quarter worth approximately $641,000. Millennium Management LLC boosted its holdings in Crown by 166.6% during the second quarter. Millennium Management LLC now owns 509,909 shares of the industrial products company’s stock worth $37,932,000 after buying an additional 318,617 shares in the last quarter. Mackenzie Financial Corp grew its position in Crown by 19.1% during the second quarter. Mackenzie Financial Corp now owns 4,807 shares of the industrial products company’s stock valued at $358,000 after buying an additional 770 shares during the period. Creative Planning increased its holdings in Crown by 4.2% in the second quarter. Creative Planning now owns 44,249 shares of the industrial products company’s stock valued at $3,292,000 after buying an additional 1,797 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Crown by 21.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,273 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 577 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.