Analysts Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $106.62

Crown Holdings, Inc. (NYSE:CCK) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $106.62.

A number of brokerages recently commented on CCK. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research report on Wednesday, December 25th. Citigroup lifted their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Royal Bank of Canada raised their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their target price on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the sale, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,000 shares of company stock worth $2,381,875. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently made changes to their positions in CCK. Sessa Capital IM L.P. grew its stake in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after buying an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd increased its stake in Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after purchasing an additional 1,062,001 shares during the period. Jennison Associates LLC lifted its position in Crown by 125.0% in the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after purchasing an additional 751,530 shares during the last quarter. FMR LLC boosted its stake in shares of Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after purchasing an additional 749,085 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in shares of Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after purchasing an additional 473,000 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.6 %

NYSE CCK opened at $81.89 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $9.80 billion, a P/E ratio of 101.10, a PEG ratio of 1.95 and a beta of 0.83. The business has a fifty day simple moving average of $90.21 and a 200 day simple moving average of $87.62. Crown has a 12 month low of $69.61 and a 12 month high of $98.46.

Crown (NYSE:CCK) last released its quarterly 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 analyst estimates of $3.07 billion. On average, analysts predict that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s payout ratio is currently 123.46%.

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.