Crown (NYSE:CCK) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a report issued on Tuesday morning.

CCK has been the topic of a number of other research reports. UBS Group cut their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on Crown from $88.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday. Barclays raised their target price on Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Truist Financial upped their price target on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Crown in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Crown Trading Down 0.3 %

NYSE:CCK opened at $93.80 on Tuesday. The company has a market cap of $11.33 billion, a PE ratio of 27.03, a P/E/G ratio of 2.19 and a beta of 0.86. The business’s 50 day moving average is $91.42 and its two-hundred day moving average is $84.23. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. Crown has a 52 week low of $69.61 and a 52 week high of $96.74.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 earnings per share. On average, analysts predict that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, August 15th. Crown’s payout ratio is currently 28.82%.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,506 shares of company stock worth $3,392,349 over the last three months. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of large investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Crown during the first quarter worth about $27,000. GAMMA Investing LLC boosted its position in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Mather Group LLC. acquired a new position in Crown in the 1st quarter valued at about $32,000. Quarry LP grew its holdings in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Crown during the first quarter worth about $41,000. Institutional investors own 90.93% of the company’s stock.

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.