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

Crown (NYSE:CCK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other equities analysts have also recently issued reports about the company. Truist Financial boosted their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Loop Capital boosted their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays raised their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Down 0.8 %

CCK opened at $80.54 on Thursday. The company has a 50 day moving average of $89.13 and a 200 day moving average of $87.59. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a market cap of $9.64 billion, a PE ratio of 99.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86.

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

Insider Activity at Crown

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

Institutional Trading of Crown

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Crown by 110.9% in 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. Covestor Ltd grew its stake in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares during the last quarter. Brooklyn Investment Group bought a new position in Crown during the 3rd quarter valued at approximately $44,000. Catalyst Capital Advisors LLC purchased a new position in Crown during the third quarter valued at $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the third quarter worth $55,000. 90.93% of the stock is owned by institutional investors.

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.