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

Crown Holdings, Inc. (NYSE:CCKGet Rating) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $128.70.

Several research analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of Crown from $165.00 to $130.00 in a report on Friday, July 22nd. Morgan Stanley decreased their price objective on shares of Crown from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, July 26th. Wells Fargo & Company decreased their price objective on shares of Crown from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Citigroup decreased their price objective on shares of Crown from $130.00 to $126.00 in a report on Friday, July 22nd. Finally, Truist Financial decreased their price objective on shares of Crown from $147.00 to $130.00 and set a “buy” rating for the company in a report on Friday, July 22nd.

Insider Transactions at Crown

In related news, VP Christy L. Kalaus sold 500 shares of Crown stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $93.90, for a total value of $46,950.00. Following the sale, the vice president now directly owns 4,894 shares in the company, valued at approximately $459,546.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Crown

Several hedge funds have recently bought and sold shares of CCK. Franklin Resources Inc. lifted its position in Crown by 43.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,313,314 shares of the industrial products company’s stock valued at $397,558,000 after purchasing an additional 1,302,722 shares during the last quarter. Millennium Management LLC raised its position in shares of Crown by 5,439.4% during the 2nd quarter. Millennium Management LLC now owns 1,081,566 shares of the industrial products company’s stock worth $99,688,000 after buying an additional 1,062,041 shares in the last quarter. FMR LLC raised its position in shares of Crown by 19.3% during the 2nd quarter. FMR LLC now owns 6,232,142 shares of the industrial products company’s stock worth $574,417,000 after buying an additional 1,006,524 shares in the last quarter. Third Point LLC bought a new stake in shares of Crown during the 4th quarter worth about $110,620,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Crown by 155.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,078,563 shares of the industrial products company’s stock worth $134,917,000 after buying an additional 656,593 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Crown Price Performance

CCK opened at $84.27 on Friday. The company has a fifty day simple moving average of $95.28 and a 200 day simple moving average of $104.16. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of -28.18, a PEG ratio of 2.34 and a beta of 1.15. Crown has a twelve month low of $83.65 and a twelve month high of $130.42. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 2.50.

Crown (NYSE:CCKGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.20 billion. Crown had a negative net margin of 3.07% and a positive return on equity of 40.47%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. Equities research analysts expect that Crown will post 7.75 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.04%. Crown’s payout ratio is currently -29.43%.

Crown Company Profile

(Get Rating)

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.

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Analyst Recommendations for Crown (NYSE:CCK)

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