Crown (NYSE:CCK) Rating Lowered to “Hold” at StockNews.com

Crown (NYSE:CCK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other research firms also recently issued reports on CCK. Loop Capital boosted their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America lowered their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup increased their price target on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Robert W. Baird increased their target price on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company reduced their price target on shares of Crown from $88.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.46.

Crown Trading Down 0.8 %

NYSE:CCK traded down $0.73 on Tuesday, hitting $88.81. The stock had a trading volume of 1,226,925 shares, compared to its average volume of 1,244,454. The company has a fifty day moving average price of $86.25 and a two-hundred day moving average price of $88.90. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 109.64, a PEG ratio of 1.68 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown has a 1-year low of $69.61 and a 1-year high of $98.46.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

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