Truist Financial Issues Pessimistic Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its target price reduced by research analysts at Truist Financial from $107.00 to $97.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 12.09% from the company’s previous close.

CCK has been the subject of several other research reports. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays cut their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Bank of America cut their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.42.

Crown Stock Up 2.8 %

NYSE:CCK traded up $2.32 on Tuesday, hitting $86.54. The stock had a trading volume of 301,280 shares, compared to its average volume of 1,349,925. The stock has a market cap of $10.12 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The firm’s fifty day simple moving average is $87.21 and its two-hundred day simple moving average is $88.30. Crown has a 1 year low of $70.84 and a 1 year high of $98.46.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Analysts predict that Crown will post 6.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CCK. Farther Finance Advisors LLC lifted its position in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares during the period. Colonial Trust Co SC lifted its holdings in Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after buying an additional 352 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 269 shares in the last quarter. 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.