By otakuyassine3@gmail.com 
Crown (NYSE:CCK – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Several other brokerages have also recently weighed in on CCK. Loop Capital lifted their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley lifted their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Barclays increased their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company increased their target price on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.
Check Out Our Latest Research Report on CCK
Crown Stock Performance
Crown stock traded up $0.28 during mid-day trading on Wednesday, reaching $83.70. 414,143 shares of the company’s stock were exchanged, compared to its average volume of 1,160,137. The business’s fifty day simple moving average is $91.21 and its 200 day simple moving average is $87.56. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown has a one year low of $69.61 and a one year high of $98.46. The firm has a market capitalization of $10.01 billion, a PE ratio of 103.33, a P/E/G ratio of 1.95 and a beta of 0.84.
Crown (NYSE:CCK – Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, sell-side analysts expect that Crown will post 6.34 earnings per share for the current year.
Insider Activity at Crown
In related news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $2,381,875 over the last ninety days. 0.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of Crown by 3.6% in the third quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock worth $87,949,000 after purchasing an additional 32,909 shares during the last quarter. Tidal Investments LLC increased its holdings in Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 12,058 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in Crown by 48.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company’s stock worth $1,589,000 after buying an additional 5,397 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Crown by 57.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company’s stock valued at $829,000 after acquiring an additional 3,264 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Crown during the 3rd quarter valued at about $861,000. 90.93% of the stock is owned by hedge funds and other institutional investors.
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.
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