Crown (NYSE:CCK) Price Target Increased to $105.00 by Analysts at Wells Fargo & Company

Crown (NYSE:CCK) had its target price lifted by Wells Fargo & Company from $97.00 to $105.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on CCK. Barclays boosted their target price on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Bank of America boosted their target price on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Truist Financial increased their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Mizuho set a $110.00 price objective on Crown in a report on Friday. Three 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

Shares of CCK opened at $96.33 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The firm’s fifty day simple moving average is $91.87 and its two-hundred day simple moving average is $84.59. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The stock has a market capitalization of $11.63 billion, a P/E ratio of 27.76, 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, topping the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the firm posted $1.68 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 1.04%. Crown’s payout ratio is currently 28.82%.

Insider Transactions at Crown

In related news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,506 shares of company stock worth $2,116,899 in the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sessa Capital IM L.P. grew its position in shares of Crown by 153.0% in the second 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 purchasing an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Crown during the first quarter valued at about $119,167,000. AQR Capital Management LLC lifted its holdings in shares of Crown by 121.7% in the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after buying an additional 404,250 shares in the last quarter. Metropolis Capital Ltd bought a new position in shares of Crown in the second quarter valued at approximately $29,291,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Crown during the first quarter valued at approximately $29,981,000. 90.93% of the stock is owned by 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.