Crown (NYSE:CCK – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
CCK has been the topic of several other research reports. Loop Capital boosted their price objective on Crown from $129.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Crown in a research report on Wednesday, October 8th. UBS Group reduced their price target on shares of Crown from $130.00 to $117.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Raymond James Financial started coverage on shares of Crown in a research note on Wednesday. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on shares of Crown from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.62.
Check Out Our Latest Research Report on CCK
Crown Stock Performance
Crown (NYSE:CCK – Get Free Report) last announced its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Crown will post 6.96 EPS for the current year.
Insider Activity at Crown
In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares of the company’s stock, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 13,000 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the completion of the sale, the chief executive officer owned 449,056 shares in the company, valued at $45,139,109.12. The trade was a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is owned by corporate insiders.
Institutional Trading of Crown
Institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in shares of Crown by 103.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 264 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Crown by 47.6% in the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 107 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 111 shares in the last quarter. Signaturefd LLC increased its stake in Crown by 161.2% in the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 245 shares during the last quarter. Finally, National Pension Service raised its holdings in Crown by 74.4% during the first quarter. National Pension Service now owns 443 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 189 shares in the last quarter. 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.
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