Crown (NYSE:CCK) Earns Buy Rating from Truist Financial

Crown (NYSE:CCK)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research note issued on Tuesday, Benzinga reports. They presently have a $106.00 target price on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 27.43% from the stock’s previous close.

Several other analysts have also commented on the stock. Loop Capital increased their price target on shares of Crown from $112.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Royal Bank of Canada dropped their price target on Crown from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. JPMorgan Chase & Co. upped their price objective on Crown from $88.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Barclays dropped their price objective on Crown from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Finally, Citigroup upped their target price on shares of Crown from $103.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.69.

Crown Price Performance

NYSE CCK traded up $0.12 during mid-day trading on Tuesday, hitting $83.18. The stock had a trading volume of 480,247 shares, compared to its average volume of 1,134,354. The company has a 50 day simple moving average of $83.94 and a 200 day simple moving average of $85.90. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 2.78 and a beta of 1.10. Crown has a 52-week low of $75.61 and a 52-week high of $96.35. The company has a quick ratio of 0.70, a current ratio of 1.13 and a debt-to-equity ratio of 2.21.

Crown (NYSE:CCK) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.73. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Crown had a return on equity of 26.84% and a net margin of 4.17%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Equities analysts forecast that Crown will post 6.04 EPS for the current fiscal year.

Insider Activity at Crown

In other Crown news, COO Gerard H. Gifford sold 9,784 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total value of $902,476.16. Following the transaction, the chief operating officer now directly owns 123,399 shares of the company’s stock, valued at approximately $11,382,323.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Gerard H. Gifford sold 9,784 shares of Crown stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total value of $902,476.16. Following the completion of the transaction, the chief operating officer now directly owns 123,399 shares in the company, valued at $11,382,323.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gerard H. Gifford sold 13,535 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $80.48, for a total value of $1,089,296.80. Following the sale, the chief operating officer now owns 109,864 shares in the company, valued at approximately $8,841,854.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCK. BluePath Capital Management LLC acquired a new position in Crown during the 3rd quarter worth $25,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Crown by 101.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 438 shares of the industrial products company’s stock worth $36,000 after buying an additional 221 shares in the last quarter. Tobam acquired a new position in shares of Crown during the second quarter valued at approximately $58,000. Quarry LP acquired a new position in shares of Crown during the 1st quarter valued at $58,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Crown by 91.9% in the second quarter. Fifth Third Bancorp now owns 691 shares of the industrial products company’s stock valued at $60,000 after buying an additional 331 shares during the period. Institutional investors and hedge funds own 95.18% of the company’s stock.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.