Crown (NYSE:CCK) Given New $108.00 Price Target at UBS Group

Crown (NYSE:CCK - Free Report) had its price target trimmed by UBS Group from $113.00 to $108.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company's stock.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Crown from $105.00 to $88.00 and set an "equal weight" rating on the stock in a report on Monday. Citigroup increased their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research note on Monday. Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Bank of America decreased their price target on Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Monday. Finally, Barclays increased their price objective on Crown from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.92.

Crown Trading Down 1.5 %

Shares of Crown stock traded down $1.18 during trading on Friday, reaching $78.84. 1,483,709 shares of the company were exchanged, compared to its average volume of 1,074,952. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The business has a 50-day moving average price of $87.96 and a 200-day moving average price of $87.68. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 97.33, a P/E/G ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly 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 net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.07 billion. Sell-side analysts anticipate 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. Stockholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Thursday, November 14th. Crown's dividend payout ratio (DPR) is currently 123.46%.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 114,402 shares of the company's stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares of the company's stock, 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 owned by company insiders.

Institutional Trading of Crown

Several hedge funds and other institutional investors have recently made changes to their positions in CCK. GAMMA Investing LLC lifted its position in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 163 shares in the last quarter. Covestor Ltd lifted its position in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock valued at $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Crown during the 3rd quarter valued at approximately $44,000. Catalyst Capital Advisors LLC bought a new stake in Crown during the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Crown during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

About Crown

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.