Crown (NYSE:CCK) PT Raised to $100.00 at Citigroup

Crown (NYSE:CCK) had its price objective lifted by stock analysts at Citigroup from $94.00 to $100.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would indicate a potential upside of 17.29% from the stock’s current price.

Other analysts also recently issued reports about the company. Barclays increased their price target on Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial lifted their target price on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America raised their price objective on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird lifted their price objective on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group reduced their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.64.

Crown Stock Up 0.3 %

Shares of Crown stock traded up $0.23 on Thursday, hitting $85.26. The company had a trading volume of 965,184 shares, compared to its average volume of 1,143,982. The stock has a 50 day moving average of $79.17 and a 200-day moving average of $80.27. Crown has a 1 year low of $69.61 and a 1 year high of $95.92. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.20 and a beta of 0.85. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 24.18%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Crown will post 6.02 earnings per share for the current year.

Insider Activity

In related news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the transaction, the chief executive officer now directly owns 608,678 shares in the company, valued at approximately $51,737,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,000 shares of company stock worth $4,575,870. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after purchasing an additional 176,639 shares in the last quarter. Victory Capital Management Inc. boosted its position in Crown by 7.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after buying an additional 350,265 shares during the period. William Blair Investment Management LLC grew its stake in shares of Crown by 2.0% during the first quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after buying an additional 56,604 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Crown by 7.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock worth $233,632,000 after buying an additional 186,387 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in shares of Crown by 7.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock valued at $185,409,000 after acquiring an additional 133,813 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

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.