Truist Financial Lowers Crown (NYSE:CCK) Price Target to $97.00

Crown (NYSE:CCK - Free Report) had its price target lowered by Truist Financial from $107.00 to $97.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a hold rating on the industrial products company's stock.

Several other research firms have also recently weighed in on CCK. Citigroup increased their price objective on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Barclays reduced their price objective on shares of Crown from $112.00 to $109.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada lifted their target price on shares of Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.42.

Crown Trading Down 0.3 %

CCK stock traded down $0.29 during midday trading on Tuesday, hitting $89.21. The company had a trading volume of 244,425 shares, compared to its average volume of 1,193,412. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown has a 52 week low of $70.84 and a 52 week high of $98.46. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.56 and a beta of 0.79. The stock's 50 day moving average price is $87.16 and its 200 day moving average price is $88.28.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, equities research analysts expect that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. Crown's dividend payout ratio (DPR) is 29.21%.

Institutional Investors Weigh In On Crown

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after purchasing an additional 117 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Crown by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company's stock worth $237,000 after buying an additional 125 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Crown by 16.2% in the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company's stock worth $82,000 after buying an additional 138 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Crown by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company's stock valued at $2,816,000 after buying an additional 138 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA increased its position in shares of Crown by 0.3% during the fourth quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company's stock valued at $4,735,000 after acquiring an additional 155 shares in the last quarter. 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.