Crown (NYSE:CCK) PT Raised to $120.00 at Loop Capital

Crown (NYSE:CCK) had its price objective boosted by Loop Capital from $106.00 to $120.00 in a research note issued to investors on Wednesday, Benzinga reports. Loop Capital currently has a buy rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Crown from $84.00 to $85.00 and gave the stock an equal weight rating in a research note on Wednesday, July 17th. 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 note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Crown from $85.00 to $90.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. Citigroup dropped their price objective on shares of Crown from $102.00 to $94.00 and set a buy rating for the company in a research note on Monday, July 8th. Finally, UBS Group dropped their price objective on shares of Crown from $112.00 to $91.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $100.21.

Crown Stock Performance

Shares of CCK stock opened at $85.68 on Wednesday. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.01 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.77 and a current ratio of 1.05. The company has a 50-day simple moving average of $79.18 and a 200 day simple moving average of $80.26. Crown has a 52 week low of $69.61 and a 52 week high of $95.31.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. The business 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%. Crown’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 EPS. On average, sell-side analysts predict that Crown will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, August 15th. Crown’s dividend payout ratio is 28.82%.

Insider Buying and Selling

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 transaction of $746,370.00. Following the completion of the transaction, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Crown news, 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 directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, 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. Insiders sold a total of 54,000 shares of company stock worth $4,575,870 in the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crown

A number of institutional investors have recently added to or reduced their stakes in CCK. Raymond James & Associates grew its holdings in Crown by 19.0% during the 4th quarter. Raymond James & Associates now owns 273,283 shares of the industrial products company’s stock worth $25,167,000 after acquiring an additional 43,727 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Crown by 87.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,049 shares of the industrial products company’s stock worth $1,202,000 after acquiring an additional 6,083 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Crown by 68.7% during the 4th quarter. Pacer Advisors Inc. now owns 23,515 shares of the industrial products company’s stock worth $2,165,000 after acquiring an additional 9,576 shares during the last quarter. Oak Thistle LLC boosted its stake in shares of Crown by 5.3% in the 4th quarter. Oak Thistle LLC now owns 6,871 shares of the industrial products company’s stock valued at $633,000 after purchasing an additional 343 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Crown by 12.8% in the 4th quarter. DAVENPORT & Co LLC now owns 50,246 shares of the industrial products company’s stock valued at $4,627,000 after purchasing an additional 5,686 shares during the last quarter. 90.93% of the stock is 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.