Crown (NYSE:CCK) Price Target Cut to $88.00 by Analysts at Wells Fargo & Company

Crown (NYSE:CCK) had its target price lowered by analysts at Wells Fargo & Company from $105.00 to $88.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.52% from the company’s previous close.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Citigroup lifted their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and an average price target of $105.38.

Crown Stock Performance

Shares of NYSE:CCK traded up $0.55 during mid-day trading on Monday, reaching $81.09. 84,748 shares of the company traded hands, compared to its average volume of 545,588. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The firm has a market cap of $9.70 billion, a PE ratio of 100.11, a PEG ratio of 1.95 and a beta of 0.86. The company’s 50 day moving average price is $89.13 and its 200-day moving average price is $87.67.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. On average, equities analysts expect that Crown will post 6.34 EPS for the current fiscal year.

Insider Transactions at Crown

In other news, 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 transaction of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown 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 sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 183 shares in the last quarter. M&T Bank Corp grew its holdings in Crown by 3.8% in the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock valued at $481,000 after purchasing an additional 185 shares during the period. CIBC Asset Management Inc increased its position in shares of Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Crown by 6.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company’s stock worth $339,000 after buying an additional 223 shares during the period. 90.93% of the stock is currently 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.