Crown (NYSE:CCK) PT Raised to $129.00

Crown (NYSE:CCK) had its target price boosted by Loop Capital from $120.00 to $129.00 in a research note issued to investors on Monday morning, Benzinga reports. Loop Capital currently has a buy rating on the industrial products company’s stock.

CCK has been the subject of several other research reports. Barclays raised their price objective on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Crown in a research report on Tuesday, September 24th. Morgan Stanley upped their price objective on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America lifted their target price on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial upped their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Performance

Shares of CCK opened at $96.00 on Monday. Crown has a one year low of $69.61 and a one year high of $98.46. The company has a 50-day simple moving average of $92.25 and a two-hundred day simple moving average of $84.80. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The firm has a market capitalization of $11.59 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last released its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. On average, analysts anticipate that Crown will post 6.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,506 shares of company stock worth $2,116,899. 0.90% of the stock is owned by insiders.

Institutional Trading of Crown

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCK. Sessa Capital IM L.P. grew its position in shares of Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the period. 1832 Asset Management L.P. bought a new stake in Crown during the first quarter valued at about $119,167,000. Metropolis Capital Ltd increased its position in Crown by 269.7% in the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after buying an additional 1,062,001 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Crown by 121.7% during the 2nd quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after buying an additional 404,250 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Crown during the 1st quarter valued at approximately $29,981,000. 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.