Robert W. Baird Upgrades Crown (NYSE:CCK) to Outperform

Crown (NYSE:CCK) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat reports. The brokerage presently has a $90.00 target price on the industrial products company’s stock, up from their prior target price of $85.00. Robert W. Baird’s target price points to a potential upside of 17.74% from the company’s current price.

Other analysts have also issued reports about the stock. Truist Financial reiterated a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. UBS Group assumed coverage on shares of Crown in a research note on Tuesday, January 16th. They set a “buy” rating and a $112.00 price target on the stock. Morgan Stanley initiated coverage on shares of Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price target on the stock. Mizuho lowered their price objective on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company lowered their price objective on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.21.

Crown Stock Down 0.7 %

Shares of CCK opened at $76.44 on Tuesday. The firm has a market cap of $9.23 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.58 and a beta of 0.91. Crown has a 12-month low of $69.61 and a 12-month high of $96.35. The company’s 50-day moving average price is $76.71 and its 200 day moving average price is $82.93. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. On average, sell-side analysts forecast that Crown will post 5.91 earnings per share for the current year.

Institutional Investors Weigh In On Crown

Several large investors have recently modified their holdings of CCK. Nomura Holdings Inc. raised its stake in shares of Crown by 202.1% during the first quarter. Nomura Holdings Inc. now owns 3,019,873 shares of the industrial products company’s stock worth $249,774,000 after purchasing an additional 2,020,200 shares during the last quarter. Norges Bank purchased a new stake in Crown during the fourth quarter worth about $123,506,000. State Street Corp grew its position in Crown by 55.5% during the second quarter. State Street Corp now owns 3,709,202 shares of the industrial products company’s stock worth $322,218,000 after buying an additional 1,323,107 shares during the period. Clearbridge Investments LLC increased its holdings in Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after buying an additional 1,003,312 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Crown during the 4th quarter valued at approximately $84,960,000. Hedge funds and other institutional investors 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.