Truist Financial Boosts Crown (NYSE:CCK) Price Target to $104.00

Crown (NYSE:CCK) had its target price boosted by stock analysts at Truist Financial from $103.00 to $104.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 29.13% from the company’s current price.

A number of other research firms also recently commented on CCK. Barclays boosted their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Citigroup boosted their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Robert W. Baird lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their target price on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.69.

Crown Stock Performance

Shares of NYSE:CCK opened at $80.54 on Monday. Crown has a 12-month low of $69.61 and a 12-month high of $98.46. The company’s 50 day moving average price is $89.13 and its two-hundred day moving average price is $87.67. The firm has a market cap of $9.64 billion, a PE ratio of 99.43, a PEG ratio of 1.95 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 (NYSE:CCK) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Equities research analysts predict that Crown will post 6.34 earnings per share for the current year.

Insider Transactions at Crown

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

Hedge Funds Weigh In On Crown

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position 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 purchasing an additional 163 shares during the period. Covestor Ltd boosted its stake in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Crown during the third quarter worth $44,000. Catalyst Capital Advisors LLC bought a new position in Crown during the third quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown in the third quarter valued at $55,000. 90.93% of the stock is currently owned by institutional investors.

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.