Royal Bank of Canada Increases Crown (NYSE:CCK) Price Target to $115.00

Crown (NYSE:CCK) had its price target upped by Royal Bank of Canada from $113.00 to $115.00 in a report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Crown from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Citigroup boosted their price objective on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Crown Price Performance

Crown stock opened at $87.01 on Friday. The business has a 50 day simple moving average of $85.55 and a 200 day simple moving average of $89.21. Crown has a one year low of $70.84 and a one year high of $98.46. The company has a market capitalization of $10.41 billion, a PE ratio of 107.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87. 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 (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, sell-side analysts forecast that Crown will post 6.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Crown

Several large investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after purchasing an additional 102,789 shares during the period. State Street Corp increased its holdings in Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Crown by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after buying an additional 283,014 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.