Crown (NYSE:CCK) Price Target Raised to $111.00

Crown (NYSE:CCK) had its price objective lifted by equities research analysts at Citigroup from $110.00 to $111.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price suggests a potential upside of 38.72% from the company’s current price.

CCK has been the subject of a number of other reports. Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday. Barclays boosted their price objective on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a research report on Friday, October 18th. Wells Fargo & Company dropped their price target on shares of Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Truist Financial boosted their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.38.

Crown Stock Performance

NYSE:CCK traded down $0.52 during trading on Monday, reaching $80.02. The company’s stock had a trading volume of 1,016,377 shares, compared to its average volume of 769,351. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 98.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. Crown has a 12 month low of $69.61 and a 12 month 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 firm has a 50 day moving average of $89.13 and a 200-day moving average of $87.67.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Research analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd grew its holdings in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Crown in the third quarter worth $44,000. Catalyst Capital Advisors LLC purchased a new stake in Crown during the 3rd quarter valued at $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.