Crown (NYSE:CCK) had its price target hoisted by stock analysts at Wells Fargo & Company from $80.00 to $87.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.49% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Barclays restated a “buy” rating on shares of Crown in a research note on Thursday, July 23rd. Jefferies Financial Group began coverage on Crown in a research note on Monday, July 13th. They set a “buy” rating and a $80.00 price target on the stock. KeyCorp restated a “hold” rating on shares of Crown in a research note on Tuesday, July 21st. ValuEngine upgraded Crown from a “sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Deutsche Bank boosted their price target on Crown from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $82.17.
Crown stock traded up $0.25 during trading hours on Wednesday, reaching $75.99. The stock had a trading volume of 2,243 shares, compared to its average volume of 601,933. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.92 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.15 and a quick ratio of 0.65. The business’s 50 day moving average price is $75.09 and its 200-day moving average price is $66.30. Crown has a 52 week low of $42.97 and a 52 week high of $80.57.
Crown (NYSE:CCK) last announced its earnings results on Monday, July 20th. The industrial products company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. Crown had a net margin of 4.28% and a return on equity of 32.53%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’s revenue was down 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Crown will post 5.19 EPS for the current fiscal year.
In related news, insider Didier Sourisseau sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $74.48, for a total value of $417,088.00. Following the sale, the insider now owns 76,908 shares in the company, valued at $5,728,107.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. boosted its position in Crown by 0.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 27,330 shares of the industrial products company’s stock worth $1,779,000 after purchasing an additional 184 shares in the last quarter. Blair William & Co. IL boosted its position in Crown by 1.9% in the 1st quarter. Blair William & Co. IL now owns 11,313 shares of the industrial products company’s stock worth $657,000 after purchasing an additional 209 shares in the last quarter. Okabena Investment Services Inc. boosted its position in Crown by 1.4% in the 2nd quarter. Okabena Investment Services Inc. now owns 20,999 shares of the industrial products company’s stock worth $1,368,000 after purchasing an additional 283 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Crown by 1.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 18,137 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 303 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in Crown by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 113,229 shares of the industrial products company’s stock worth $7,375,000 after purchasing an additional 331 shares in the last quarter. Institutional investors and hedge funds own 88.50% of the company’s stock.
Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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