ValuEngine upgraded shares of Crown (NYSE:CCK) from a strong sell rating to a sell rating in a research report released on Wednesday morning.
Several other brokerages also recently commented on CCK. Zacks Investment Research raised shares of Crown from a sell rating to a hold rating in a research note on Friday, October 5th. Bank of America upped their price objective on shares of Crown from $51.00 to $57.00 and gave the company a hold rating in a research note on Monday, September 24th. Citigroup upped their price objective on shares of Crown from $59.00 to $60.00 and gave the company a buy rating in a research note on Friday, October 19th. KeyCorp reaffirmed a hold rating on shares of Crown in a research note on Thursday, October 18th. Finally, TheStreet raised shares of Crown from a c+ rating to a b- rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $60.67.
Shares of NYSE:CCK traded down $0.98 during midday trading on Wednesday, hitting $45.79. 3,661,057 shares of the stock traded hands, compared to its average volume of 2,270,590. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41. The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 6.82. Crown has a one year low of $40.09 and a one year high of $62.27.
Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.17 billion. Crown had a net margin of 2.81% and a return on equity of 59.62%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. As a group, research analysts forecast that Crown will post 5.2 EPS for the current fiscal year.
In related news, Director William S. Urkiel purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was bought at an average cost of $40.25 per share, with a total value of $100,625.00. Following the completion of the purchase, the director now directly owns 46,594 shares in the company, valued at $1,875,408.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its stake in Crown by 4.1% in the third quarter. Canada Pension Plan Investment Board now owns 214,311 shares of the industrial products company’s stock worth $10,287,000 after buying an additional 8,362 shares in the last quarter. HAP Trading LLC bought a new position in Crown in the third quarter worth about $882,000. CIBC World Markets Inc. raised its stake in Crown by 748.5% in the third quarter. CIBC World Markets Inc. now owns 54,712 shares of the industrial products company’s stock worth $2,626,000 after buying an additional 48,264 shares in the last quarter. FMR LLC raised its stake in Crown by 66.3% in the third quarter. FMR LLC now owns 5,846,001 shares of the industrial products company’s stock worth $280,608,000 after buying an additional 2,330,692 shares in the last quarter. Finally, CI Global Investments Inc. raised its stake in Crown by 7.9% in the third quarter. CI Global Investments Inc. now owns 7,396,847 shares of the industrial products company’s stock worth $355,049,000 after buying an additional 542,104 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
Read More: Analyst Ratings
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