Royal Bank of Canada Increases Crown (NYSE:CCK) Price Target to $105.00

Crown (NYSE:CCK) had its price objective boosted by Royal Bank of Canada from $96.00 to $105.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup boosted their target price on shares of Crown from $94.00 to $100.00 and gave the stock a buy rating in a research note on Thursday. Barclays upped their price objective on shares of Crown from $95.00 to $100.00 and gave the company an overweight rating in a research note on Wednesday. Loop Capital upped their price objective on shares of Crown from $106.00 to $120.00 and gave the company a buy rating in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Crown from $85.00 to $88.00 and gave the stock an equal weight rating in a research note on Wednesday. Finally, StockNews.com raised shares of Crown from a hold rating to a buy rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown currently has a consensus rating of Moderate Buy and an average price target of $100.21.

Crown Stock Up 0.9 %

Crown stock opened at $85.66 on Friday. Crown has a twelve month low of $69.61 and a twelve month high of $95.31. The stock’s fifty day simple moving average is $79.18 and its 200-day simple moving average is $80.26. The company has a current ratio of 1.05, a quick ratio of 0.77 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $10.34 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.01 and a beta of 0.85.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 earnings per share. As a group, equities analysts expect that Crown will post 6.15 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock valued at $4,575,870 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCK. Rise Advisors LLC bought a new stake in Crown in the first quarter worth approximately $27,000. Mather Group LLC. bought a new stake in Crown in the first quarter worth approximately $32,000. Quest Partners LLC bought a new stake in Crown in the fourth quarter worth approximately $34,000. Quarry LP grew its position in Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Crown in the first quarter worth approximately $41,000. 90.93% of the stock is owned by hedge funds and other 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.