Crown (NYSE:CCK) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a report published on Monday.

A number of other equities analysts have also commented on CCK. Citigroup boosted their price objective on shares of Crown from $94.00 to $100.00 and gave the stock a buy rating in a report on Thursday, July 25th. Barclays boosted their price target on Crown from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Loop Capital raised their price objective on Crown from $106.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Bank of America upped their target price on Crown from $98.00 to $102.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown has a consensus rating of Moderate Buy and an average price target of $101.14.

Crown Trading Up 0.2 %

Shares of CCK opened at $90.15 on Monday. 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 12 month low of $69.61 and a 12 month high of $93.79. The stock has a market cap of $10.89 billion, a PE ratio of 25.98, a P/E/G ratio of 2.16 and a beta of 0.85. The stock’s 50-day moving average is $84.72 and its two-hundred day moving average is $81.32.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share 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 analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. Equities analysts forecast 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 was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. Crown’s payout ratio is currently 28.82%.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock valued at $2,598,675 in the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new position in Crown in the 1st quarter worth approximately $27,000. Mather Group LLC. acquired a new position in Crown during the 1st quarter worth $32,000. Quest Partners LLC acquired a new position in Crown during the 4th quarter worth $34,000. Quarry LP grew its stake in shares of 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 purchasing an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Crown during the first quarter valued at $41,000. Institutional investors own 90.93% of the company’s stock.

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.