Wells Fargo & Co set a $70.00 price target on Crown (NYSE:CCK) in a report released on Friday, Stock Target Advisor reports. The firm currently has a hold rating on the industrial products company’s stock.
CCK has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Crown from a hold rating to a sell rating in a report on Wednesday, January 23rd. KeyCorp reiterated a hold rating on shares of Crown in a report on Thursday, February 7th. Deutsche Bank increased their price objective on shares of Crown from $60.00 to $65.00 and gave the company a positive rating in a report on Monday, April 22nd. Royal Bank of Canada increased their price objective on shares of Crown from $58.00 to $64.00 and gave the company an outperform rating in a report on Tuesday, February 19th. Finally, TheStreet upgraded shares of Crown from a c+ rating to a b- rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Crown has an average rating of Hold and a consensus target price of $60.67.
CCK stock opened at $60.45 on Friday. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.63 and a beta of 1.66. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.20 and a quick ratio of 0.65. Crown has a 12 month low of $39.05 and a 12 month high of $61.40.
Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $1.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.05. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Crown had a net margin of 3.86% and a return on equity of 54.33%. Crown’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, sell-side analysts expect that Crown will post 5.29 earnings per share for the current year.
In other news, Director John W. Conway sold 129,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $58.06, for a total transaction of $7,489,740.00. Following the completion of the sale, the director now owns 1,156,677 shares in the company, valued at approximately $67,156,666.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of Crown by 2.4% during the 4th quarter. Prudential Financial Inc. now owns 8,385 shares of the industrial products company’s stock worth $349,000 after buying an additional 200 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Crown by 0.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 36,251 shares of the industrial products company’s stock worth $1,437,000 after buying an additional 235 shares during the last quarter. Utah Retirement Systems increased its holdings in shares of Crown by 1.2% during the 1st quarter. Utah Retirement Systems now owns 24,392 shares of the industrial products company’s stock worth $1,331,000 after buying an additional 293 shares during the last quarter. Private Capital Group LLC increased its holdings in shares of Crown by 43.4% during the 4th quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its holdings in shares of Crown by 16.7% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,100 shares of the industrial products company’s stock worth $115,000 after buying an additional 300 shares during the last quarter.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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