Crown (NYSE:CCK) Price Target Cut to $109.00 by Analysts at Barclays

Crown (NYSE:CCK) had its target price decreased by Barclays from $112.00 to $109.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the stock. Robert W. Baird lifted their price objective 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 lowered their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Citigroup lifted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.69.

Crown Stock Down 1.4 %

Crown stock opened at $88.31 on Monday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.84 and a current ratio of 1.22. Crown has a 52-week low of $70.84 and a 52-week high of $98.46. The firm has a 50 day moving average price of $85.24 and a two-hundred day moving average price of $89.39. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.68 and a beta of 0.87.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Equities analysts predict that Crown will post 6.83 EPS for the current year.

Hedge Funds Weigh In On Crown

A number of hedge funds have recently bought and sold shares of CCK. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after acquiring an additional 3,074,791 shares during the last quarter. Norges Bank purchased a new position in Crown during the 4th quarter worth $113,568,000. Metropolis Capital Ltd boosted its holdings in Crown by 269.7% during the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after acquiring an additional 1,062,001 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Crown during the 4th quarter worth $66,732,000. Finally, Jennison Associates LLC boosted its holdings in Crown by 125.0% during the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after acquiring an additional 751,530 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

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.