Citigroup Boosts Crown (NYSE:CCK) Price Target to $111.00

Crown (NYSE:CCK - Free Report) had its price target raised by Citigroup from $110.00 to $111.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the industrial products company's stock.

Several other analysts have also commented on the stock. Bank of America decreased their price target on shares of Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research report on Monday. Truist Financial increased their target price on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research report on Monday. Robert W. Baird lifted their price target on shares of Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Crown has a consensus rating of "Moderate Buy" and a consensus price target of $105.38.

Crown Stock Down 0.6 %

Shares of CCK traded down $0.52 during mid-day trading on Monday, hitting $80.02. The company's stock had a trading volume of 1,016,377 shares, compared to its average volume of 868,692. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company's 50-day moving average is $88.83 and its 200-day moving average is $87.77. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 98.79, a PEG ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, equities research analysts forecast that Crown will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. Crown's dividend payout ratio (DPR) is presently 123.46%.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares of the company's stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Crown

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock worth $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd raised its holdings in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in Crown during the third quarter worth approximately $44,000. Catalyst Capital Advisors LLC acquired a new stake in Crown in the third quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Crown in the third quarter valued at approximately $55,000. 90.93% of the stock is 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.