Crown (NYSE:CCK) Upgraded at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK - Free Report) from a hold rating to a buy rating in a report released on Saturday.

Other equities analysts also recently issued reports about the company. UBS Group reduced their price target on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a report on Friday, January 10th. Loop Capital raised their price target on Crown from $120.00 to $129.00 and gave the company a "buy" rating in a report on Monday, October 21st. Robert W. Baird raised their price target on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Finally, Truist Financial increased their price objective on Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Crown presently has an average rating of "Moderate Buy" and an average target price of $105.46.

Crown Stock Up 0.4 %

CCK traded up $0.38 during trading on Friday, reaching $85.59. The stock had a trading volume of 1,126,690 shares, compared to its average volume of 1,101,216. The stock's 50 day moving average is $86.75 and its two-hundred day moving average is $87.97. 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 has a market capitalization of $10.24 billion, a price-to-earnings ratio of 105.66, a P/E/G ratio of 1.51 and a beta of 0.86. Crown has a one year low of $69.61 and a one year high of $98.46.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, analysts expect that Crown will post 6.35 earnings per share for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Crown's payout ratio is currently 123.46%.

Insider Activity

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

Institutional Trading of Crown

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Crown by 110.9% in the 3rd 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 last quarter. Covestor Ltd increased its stake 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 acquiring an additional 277 shares during the last quarter. Brooklyn Investment Group bought a new stake in Crown in the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC bought a new stake in Crown in the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the 3rd quarter worth approximately $55,000. 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.