JPMorgan Chase & Co. Upgrades Crown (NYSE:CCK) to “Overweight”

Crown (NYSE:CCKGet Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, FinViz reports. The firm presently has a $85.00 target price on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.86% from the stock’s current price.

Several other research firms have also recently commented on CCK. StockNews.com upgraded shares of Crown from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Barclays decreased their price objective on shares of Crown from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Mizuho decreased their price objective on shares of Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Crown from $86.00 to $74.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Finally, UBS Group assumed coverage on shares of Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Get Our Latest Stock Analysis on Crown

Crown Price Performance

Shares of NYSE:CCK opened at $76.67 on Wednesday. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.68 and a beta of 0.96. Crown has a 12 month low of $69.61 and a 12 month high of $96.35. The stock’s 50 day moving average price is $90.00 and its 200 day moving average price is $87.69. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.13 and a quick ratio of 0.70.

Crown (NYSE:CCKGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. Crown had a net margin of 4.17% and a return on equity of 26.84%. Crown’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 EPS. Equities research analysts anticipate that Crown will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $90.96, for a total transaction of $682,200.00. Following the sale, the chief executive officer now directly owns 651,264 shares of the company’s stock, valued at $59,238,973.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Hedge funds have recently modified their holdings of the stock. BluePath Capital Management LLC acquired a new stake in Crown during the 3rd quarter worth $25,000. Sound Income Strategies LLC acquired a new stake in Crown during the 4th quarter worth $26,000. Tobam acquired a new stake in Crown during the 2nd quarter worth $58,000. Fifth Third Bancorp grew its holdings in Crown by 91.9% during the 2nd quarter. Fifth Third Bancorp now owns 691 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 331 shares during the period. Finally, Quarry LP acquired a new stake in Crown during the 1st quarter worth $58,000. 95.18% of the stock is owned by institutional investors.

Crown Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Crown (NYSE:CCK)

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