Brokerages Set Crown Holdings, Inc. (NYSE:CCK) Price Target at $99.21

Crown Holdings, Inc. (NYSE:CCK) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $99.21.

A number of brokerages recently weighed in on CCK. Wells Fargo & Company cut their price target on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Royal Bank of Canada dropped their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Wolfe Research started coverage on Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target for the company. JPMorgan Chase & Co. upgraded Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Wednesday, February 7th. Finally, Mizuho reduced their price target on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th.

Crown Trading Up 0.3 %

CCK stock opened at $78.83 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The company’s 50-day simple moving average is $77.00 and its 200 day simple moving average is $82.68. Crown has a 52 week low of $69.61 and a 52 week high of $96.35. The company has a market capitalization of $9.52 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.17 EPS. As a group, sell-side analysts anticipate that Crown will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Crown’s dividend payout ratio (DPR) is 26.60%.

Institutional Trading of Crown

A number of institutional investors have recently bought and sold shares of the business. DB Fitzpatrick & Co Inc increased its position in Crown by 0.9% during the 3rd quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock worth $1,439,000 after purchasing an additional 142 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Crown by 14.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Crown by 5.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 154 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Crown by 6.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after buying an additional 160 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Crown by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company’s stock worth $1,205,000 after buying an additional 180 shares during the period. 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.