Crown (NYSE:CCK) Stock Rating Reaffirmed by Truist Financial

Crown (NYSE:CCK)‘s stock had its “hold” rating reissued by equities researchers at Truist Financial in a research report issued on Wednesday, MarketBeat reports. They presently have a $88.00 price target on the industrial products company’s stock, down from their previous price target of $100.00. Truist Financial’s target price indicates a potential upside of 11.03% from the stock’s previous close.

Several other equities analysts also recently weighed in on CCK. Royal Bank of Canada reduced their target price on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Robert W. Baird reissued a “neutral” rating and issued a $90.00 price target on shares of Crown in a report on Tuesday, February 6th. Morgan Stanley initiated coverage on Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. Wells Fargo & Company lowered their target price on Crown from $93.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Finally, 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, February 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Crown Stock Performance

Shares of Crown stock opened at $79.26 on Wednesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.60 and a beta of 0.91. Crown has a 12 month low of $69.61 and a 12 month high of $96.35. The firm’s fifty day simple moving average is $79.52 and its 200-day simple moving average is $84.02.

Crown (NYSE:CCK) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.19). The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, equities analysts forecast that Crown will post 5.95 earnings per share for the current year.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $90.96, for a total transaction of $682,200.00. Following the transaction, the chief executive officer now 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 SEC, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCK. BluePath Capital Management LLC bought a new stake in shares of Crown in the third quarter valued at approximately $25,000. Sound Income Strategies LLC bought a new position in Crown during the 4th quarter valued at about $26,000. Quest Partners LLC bought a new stake in Crown during the fourth quarter worth about $34,000. Quarry LP grew its holdings in shares of Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Crown in the second quarter worth about $78,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.