Crown (NYSE:CCK) Price Target Lowered to $88.00 at Wells Fargo & Company

Crown (NYSE:CCK) had its price target cut by investment analysts at Wells Fargo & Company from $105.00 to $88.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.63% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Mizuho set a $110.00 price target on Crown in a research note on Friday, October 18th. Loop Capital lifted their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Citigroup increased their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Finally, Barclays increased their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $104.62.

Crown Stock Performance

CCK stock opened at $80.27 on Monday. The firm has a 50 day simple moving average of $88.54 and a 200 day simple moving average of $87.79. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The stock has a market cap of $9.60 billion, a P/E ratio of 99.10, a P/E/G ratio of 1.95 and a beta of 0.86. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Research analysts anticipate that Crown will post 6.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in Crown by 121.3% during the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after purchasing an additional 12,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Crown by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock valued at $23,878,000 after acquiring an additional 10,295 shares during the period. Sei Investments Co. raised its stake in Crown by 139.2% during the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after acquiring an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. lifted its holdings in shares of Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after acquiring an additional 7,280 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Crown by 62.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock valued at $1,722,000 after purchasing an additional 8,857 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

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.