Morgan Stanley Raises Crown (NYSE:CCK) Price Target to $105.00

Crown (NYSE:CCK) had its price target raised by Morgan Stanley from $92.00 to $105.00 in a report released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada boosted their price target on Crown from $96.00 to $105.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Loop Capital increased their target price on shares of Crown from $106.00 to $120.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Crown from $85.00 to $88.00 and gave the stock an equal weight rating in a research report on Wednesday, July 24th. Barclays increased their price objective on shares of Crown from $95.00 to $100.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Crown from a hold rating to a buy rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Crown currently has an average rating of Moderate Buy and a consensus price target of $101.14.

Crown Trading Up 1.1 %

Shares of NYSE:CCK opened at $91.36 on Wednesday. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The business’s 50 day moving average price is $83.69 and its 200-day moving average price is $81.03. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. Crown has a 1 year low of $69.61 and a 1 year high of $93.79.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share. On average, equities research analysts forecast that Crown will post 6.16 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. 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 company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Crown

Institutional investors and hedge funds have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in shares of Crown in the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of Crown during the first quarter worth $32,000. Quest Partners LLC acquired a new stake in shares of Crown in the fourth quarter valued at $34,000. Quarry LP boosted its holdings in Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 276 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Crown during the 1st quarter worth $41,000. 90.93% of the stock is currently owned by hedge funds and other 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.