Crown (NYSE:CCK) Given New $100.00 Price Target at Robert W. Baird

Crown (NYSE:CCK) had its price objective raised by Robert W. Baird from $90.00 to $100.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other analysts also recently weighed in on CCK. Truist Financial restated a hold rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Morgan Stanley initiated coverage on Crown in a research note on Monday, March 18th. They set an equal weight rating and a $87.00 target price for the company. Royal Bank of Canada decreased their target price on Crown from $110.00 to $97.00 and set an outperform rating for the company in a research note on Thursday, February 8th. UBS Group initiated coverage on Crown in a research note on Tuesday, January 16th. They set a buy rating and a $112.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Crown from $78.00 to $76.00 and set an equal weight rating for the company in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $99.29.

Crown Stock Performance

Shares of NYSE CCK opened at $83.00 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. The business’s 50-day simple moving average is $77.94 and its 200-day simple moving average is $82.62. Crown has a 52 week low of $69.61 and a 52 week high of $96.35.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 24.23% and a net margin of 3.51%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. As a group, equities research analysts expect that Crown will post 5.9 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the transaction, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds and other institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new position in shares of Crown during the 3rd quarter worth approximately $25,000. Sound Income Strategies LLC bought a new position in shares of Crown during the 4th quarter worth approximately $26,000. Rise Advisors LLC bought a new position in shares of Crown during the 1st quarter worth approximately $27,000. Mather Group LLC. bought a new position in shares of Crown during the 1st quarter worth approximately $32,000. Finally, Quest Partners LLC bought a new position in shares of Crown during the 4th quarter worth approximately $34,000. Institutional investors own 90.93% of the company’s stock.

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.