Mizuho Issues Pessimistic Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price target dropped by investment analysts at Mizuho from $110.00 to $100.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price indicates a potential upside of 22.84% from the company’s current price.

Several other equities analysts have also issued reports on the company. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday. Loop Capital raised their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays upped their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley raised their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $104.62.

Crown Trading Up 1.6 %

Shares of Crown stock traded up $1.30 on Tuesday, hitting $81.41. 293,712 shares of the company traded hands, compared to its average volume of 713,279. 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 company has a market cap of $9.74 billion, a PE ratio of 100.51, a PEG ratio of 1.95 and a beta of 0.86. The stock’s 50 day moving average price is $88.83 and its 200-day moving average price is $87.77. Crown has a 52 week low of $69.61 and a 52 week high of $98.46.

Crown (NYSE:CCK) last issued its 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 return on equity of 24.57% and a net margin of 0.83%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts predict that Crown will post 6.34 EPS for the current year.

Insider Activity

In related news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Several institutional investors have recently bought and sold shares of CCK. GAMMA Investing LLC lifted its position in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd raised its position in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in Crown during the third quarter valued at $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. acquired a new stake in shares of Crown in the third quarter valued at about $55,000. 90.93% of the stock is 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.