Crown (NYSE:CCK) Price Target Raised to $106.00 at Loop Capital

Crown (NYSE:CCK) had its target price raised by Loop Capital from $101.00 to $106.00 in a report released on Wednesday morning, Benzinga reports. Loop Capital currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on CCK. Morgan Stanley initiated coverage on shares of Crown in a research report on Monday, March 18th. They set an equal weight rating and a $87.00 price target on the stock. Robert W. Baird raised their price target on shares of Crown from $90.00 to $100.00 and gave the company an outperform rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Crown from $85.00 to $90.00 and gave the stock an overweight rating in a research report on Wednesday. Mizuho lowered their price objective on shares of Crown from $105.00 to $96.00 and set a buy rating on the stock in a research report on Tuesday, February 6th. Finally, UBS Group assumed coverage on shares of Crown in a research report on Tuesday, January 16th. They issued a buy rating and a $112.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $99.29.

Crown Stock Up 1.1 %

Shares of NYSE CCK opened at $83.00 on Wednesday. The stock has a market capitalization of $10.03 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a 50-day moving average price of $77.94 and a 200-day moving average price of $82.62. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

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

Crown Increases Dividend

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

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were 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 of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Several hedge funds have recently bought and sold shares of the company. Iridian Asset Management LLC CT grew its stake in Crown by 33.4% during the first quarter. Iridian Asset Management LLC CT now owns 252,021 shares of the industrial products company’s stock valued at $19,975,000 after acquiring an additional 63,040 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Crown in the 1st quarter worth approximately $500,000. BNP Paribas Financial Markets grew its stake in Crown by 35.3% in the 1st quarter. BNP Paribas Financial Markets now owns 56,933 shares of the industrial products company’s stock worth $4,513,000 after buying an additional 14,843 shares in the last quarter. TFC Financial Management Inc. grew its stake in Crown by 50.5% in the 1st quarter. TFC Financial Management Inc. now owns 1,385 shares of the industrial products company’s stock worth $110,000 after buying an additional 465 shares in the last quarter. Finally, OFI Invest Asset Management grew its stake in Crown by 17.9% in the 1st quarter. OFI Invest Asset Management now owns 11,027 shares of the industrial products company’s stock worth $809,000 after buying an additional 1,673 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About Crown

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.