Crown (NYSE:CCK) Given New $86.00 Price Target at Wells Fargo & Company

Crown (NYSE:CCK - Get Free Report) had its price objective dropped by equities research analysts at Wells Fargo & Company from $88.00 to $86.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price points to a potential upside of 0.97% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Robert W. Baird raised their price objective on shares of Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Loop Capital boosted their target price on Crown from $120.00 to $129.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Royal Bank of Canada raised their price target on Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, Mizuho dropped their price objective on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.46.

Crown Stock Performance

CCK stock traded up $0.55 during trading on Thursday, hitting $85.17. The company had a trading volume of 1,218,872 shares, compared to its average volume of 1,241,987. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The firm has a 50-day moving average price of $87.06 and a 200-day moving average price of $87.90. 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 cap of $10.19 billion, a PE ratio of 105.15, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping 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 business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.07 billion. On average, analysts expect that Crown will post 6.35 earnings per share for the current year.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now directly 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 currently owned by insiders.

Institutional Investors Weigh In On Crown

A number of hedge funds and other institutional investors have recently modified their holdings of CCK. Marshall & Sullivan Inc. WA boosted its position in Crown by 0.3% during the fourth quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company's stock worth $4,735,000 after acquiring an additional 155 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock worth $30,000 after purchasing an additional 163 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company's stock worth $894,000 after purchasing an additional 183 shares during the last quarter. M&T Bank Corp grew its position in shares of Crown by 3.8% in the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company's stock valued at $481,000 after purchasing an additional 185 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Crown by 6.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 223 shares during the last quarter. 90.93% of the stock is currently 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.