Crown (NYSE:CCK) Price Target Raised to $90.00

Crown (NYSE:CCK) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $85.00 to $90.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.63% from the company’s current price.

CCK has been the topic of several other reports. Royal Bank of Canada cut their price target on shares of Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Mizuho cut their price target on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Robert W. Baird upped their price target on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial reiterated a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Finally, UBS Group began coverage on shares of Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.29.

Crown Price Performance

Shares of Crown stock traded up $1.55 during trading hours on Wednesday, reaching $83.62. The company’s stock had a trading volume of 384,793 shares, compared to its average volume of 1,238,073. The firm has a 50 day moving average price of $77.78 and a 200-day moving average price of $82.62. Crown has a one year low of $69.61 and a one 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. The stock has a market cap of $10.10 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.75 and a beta of 0.91.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping 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 firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. On average, analysts predict that Crown will post 5.9 EPS for the current year.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 22,500 shares of the company’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 value of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

A number of hedge funds and other institutional investors have recently bought and sold shares of CCK. SG Americas Securities LLC purchased a new stake in Crown during the third quarter valued at approximately $614,000. Asset Management One Co. Ltd. increased its stake in Crown by 3.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 46,708 shares of the industrial products company’s stock valued at $4,133,000 after purchasing an additional 1,376 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Crown by 2.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 183 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Crown by 61.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,966 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 2,638 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Crown by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,222,802 shares of the industrial products company’s stock valued at $108,194,000 after purchasing an additional 12,577 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.