Crown (NYSE:CCK) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Crown (NYSE:CCK) from a hold rating to a sell rating in a research report released on Wednesday, ValuEngine reports.

A number of other research analysts also recently issued reports on CCK. Robert W. Baird restated an outperform rating and issued a $75.00 price target (up from $65.00) on shares of Crown in a research report on Friday, September 20th. They noted that the move was a valuation call. Citigroup set a $75.00 price target on shares of Crown and gave the stock a buy rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on shares of Crown from $68.00 to $75.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. Finally, Zacks Investment Research upgraded shares of Crown from a sell rating to a hold rating and set a $67.00 price target on the stock in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $66.60.

NYSE CCK traded up $1.69 during trading hours on Wednesday, reaching $63.75. 1,280,306 shares of the company traded hands, compared to its average volume of 1,331,693. Crown has a 12 month low of $39.05 and a 12 month high of $68.84. The company has a current ratio of 1.17, a quick ratio of 0.66 and a debt-to-equity ratio of 5.13. The stock has a market capitalization of $8.64 billion, a PE ratio of 12.26, a PEG ratio of 1.82 and a beta of 1.55. The company has a 50 day moving average of $64.94 and a two-hundred day moving average of $60.80.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.03). Crown had a return on equity of 48.36% and a net margin of 3.91%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that Crown will post 5.09 earnings per share for the current year.

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total value of $679,200.00. Following the sale, the chief operating officer now owns 152,292 shares of the company’s stock, valued at approximately $10,343,672.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its holdings in shares of Crown by 53.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 691 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 240 shares during the period. Investors Research Corp increased its stake in Crown by 12.2% during the 2nd quarter. Investors Research Corp now owns 2,300 shares of the industrial products company’s stock valued at $141,000 after buying an additional 250 shares during the period. Advisor Group Inc. increased its stake in Crown by 7.3% during the 2nd quarter. Advisor Group Inc. now owns 3,759 shares of the industrial products company’s stock valued at $230,000 after buying an additional 257 shares during the period. Machina Capital S.A.S. increased its stake in Crown by 19.5% during the 2nd quarter. Machina Capital S.A.S. now owns 2,141 shares of the industrial products company’s stock valued at $131,000 after buying an additional 350 shares during the period. Finally, First Personal Financial Services increased its stake in Crown by 73.7% during the 2nd quarter. First Personal Financial Services now owns 1,002 shares of the industrial products company’s stock valued at $61,000 after buying an additional 425 shares during the period. 96.17% of the stock is currently owned by institutional investors and hedge funds.

About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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