Crown (NYSE:CCK) Reaches New 12-Month High – Time to Buy?

Crown Holdings, Inc. (NYSE:CCK)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $110.65 and last traded at $110.7890, with a volume of 39501 shares traded. The stock had previously closed at $107.78.

Wall Street Analyst Weigh In

CCK has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price target on shares of Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Crown in a research report on Monday, December 29th. Wells Fargo & Company boosted their target price on shares of Crown from $99.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Raymond James Financial restated an “outperform” rating and issued a $115.00 price target (up from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Finally, Mizuho increased their price objective on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.62.

Crown Stock Performance

The stock has a 50 day simple moving average of $101.75 and a two-hundred day simple moving average of $99.04. The company has a market cap of $12.92 billion, a PE ratio of 13.85, a PEG ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.16 and a quick ratio of 0.76.

Insider Transactions at Crown

In related news, COO Djalma Novaes, Jr. sold 19,754 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total transaction of $1,995,549.08. Following the completion of the sale, the chief operating officer directly owned 96,841 shares of the company’s stock, valued at $9,782,877.82. This trade represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $105.00, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer owned 482,236 shares of the company’s stock, valued at $50,634,780. This trade represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 64,754 shares of company stock valued at $6,720,634 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in Crown by 103.1% in the third quarter. Harbor Capital Advisors Inc. now owns 264 shares of the industrial products company’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Crown by 105.0% in the third quarter. Smartleaf Asset Management LLC now owns 289 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Crown during the 3rd quarter worth about $29,000. ORG Partners LLC raised its stake in Crown by 52.5% in the 4th quarter. ORG Partners LLC now owns 305 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 105 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Crown by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

About Crown

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.