Crown Holdings, Inc. (NYSE:CCK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Crown Holdings, Inc. (NYSE:CCK – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $132.45.

A number of research firms have weighed in on CCK. Robert W. Baird reduced their target price on Crown from $165.00 to $130.00 in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on Crown from $137.00 to $135.00 in a report on Tuesday, July 19th. Mizuho reduced their target price on Crown from $126.00 to $124.00 and set a “maintains” rating for the company in a report on Friday, July 22nd. Citigroup reduced their target price on Crown from $130.00 to $126.00 in a report on Friday, July 22nd. Finally, Wells Fargo & Company reduced their target price on Crown from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, July 18th.

Insider Buying and Selling

In related news, insider Djalma Novaes, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $105.38, for a total value of $526,900.00. Following the completion of the sale, the insider now owns 80,328 shares in the company, valued at approximately $8,464,964.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown

A number of hedge funds have recently bought and sold shares of the company. Riverview Trust Co bought a new stake in Crown in the first quarter valued at approximately $27,000. Quent Capital LLC lifted its position in Crown by 92.7% in the first quarter. Quent Capital LLC now owns 237 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd bought a new stake in Crown in the fourth quarter valued at approximately $33,000. Meeder Asset Management Inc. lifted its position in Crown by 187.6% in the first quarter. Meeder Asset Management Inc. now owns 302 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 197 shares during the last quarter. Finally, Arlington Partners LLC bought a new stake in Crown in the second quarter valued at approximately $43,000. Institutional investors own 91.52% of the company’s stock.

Crown Stock Performance

Shares of CCK opened at $99.31 on Thursday. The business has a 50-day moving average of $96.33 and a 200 day moving average of $109.60. Crown has a fifty-two week low of $85.85 and a fifty-two week high of $130.42. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.95 and a quick ratio of 0.59.

Crown (NYSE:CCK – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.07. Crown had a positive return on equity of 40.47% and a negative net margin of 3.07%. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the firm posted $2.14 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts forecast that Crown will post 7.76 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.88 dividend on an annualized basis and a yield of 0.89%. Crown’s payout ratio is -29.43%.

About Crown

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Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.