Crown (NYSE:CCK) Stock Price Expected to Rise, Truist Financial Analyst Says

Crown (NYSE:CCK) had its target price lifted by stock analysts at Truist Financial from $103.00 to $104.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 29.56% from the stock’s current price.

A number of other research firms also recently weighed in on CCK. Loop Capital upped their price target on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Citigroup raised their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their price target on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus price target of $104.62.

Crown Stock Performance

Shares of CCK stock opened at $80.27 on Monday. The company has a market capitalization of $9.60 billion, a P/E ratio of 99.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The company’s 50 day moving average price is $88.54 and its two-hundred day moving average price is $87.79.

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

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 8.04 % 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 link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Crown by 110.9% in 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 third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares during the period. Brooklyn Investment Group acquired a new stake in Crown during the third quarter worth approximately $44,000. Catalyst Capital Advisors LLC bought a new position in Crown during the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown in the 3rd quarter valued at $55,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.