Crown (NYSE:CCK) PT Raised to $105.00

Crown (NYSE:CCK - Get Free Report) had its price target lifted by analysts at Morgan Stanley from $92.00 to $105.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's target price indicates a potential upside of 16.23% from the stock's current price.

A number of other research firms have also issued reports on CCK. Citigroup raised their target price on Crown from $94.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Loop Capital upped their target price on shares of Crown from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Barclays raised their price target on shares of Crown from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on Crown from $85.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.14.

Crown Stock Performance

Shares of CCK stock traded down $0.08 during trading on Wednesday, reaching $90.34. The company had a trading volume of 2,999,182 shares, compared to its average volume of 1,144,960. The firm's 50 day simple moving average is $83.07 and its two-hundred day simple moving average is $80.78. Crown has a one year low of $69.61 and a one year high of $93.79. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The company has a market capitalization of $10.91 billion, a PE ratio of 26.03, a PEG ratio of 2.14 and a beta of 0.85.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 earnings per share. Sell-side analysts forecast that Crown will post 6.16 earnings per share for the current year.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company's 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 of the company's stock, valued at $50,323,381.30. The sale 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 stock in a transaction on 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 completion of the sale, 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. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently modified their holdings of CCK. International Assets Investment Management LLC acquired a new position in Crown in the 4th quarter worth $1,925,000. Atria Wealth Solutions Inc. bought a new position in shares of Crown during the fourth quarter worth about $233,000. New York Life Investment Management LLC raised its position in Crown by 2.9% in the 4th quarter. New York Life Investment Management LLC now owns 13,593 shares of the industrial products company's stock valued at $1,252,000 after buying an additional 380 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Crown in the 4th quarter valued at approximately $255,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Crown by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,624 shares of the industrial products company's stock valued at $70,783,000 after acquiring an additional 19,242 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.