Wells Fargo & Company Has Lowered Expectations for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price target cut by equities research analysts at Wells Fargo & Company from $127.00 to $126.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.69% from the stock’s previous close.

A number of other equities research analysts have also recently commented on CCK. Raymond James Financial increased their price target on Crown from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Bank of America boosted their price target on Crown from $129.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Robert W. Baird boosted their price target on Crown from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $121.00 price objective on shares of Crown in a report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Crown in a research report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Crown Stock Up 0.6%

Shares of Crown stock traded up $0.71 during trading on Monday, reaching $114.86. The company’s stock had a trading volume of 147,950 shares, compared to its average volume of 1,079,468. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 1.63. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.54 and a beta of 0.56. Crown has a 1-year low of $91.31 and a 1-year high of $122.91. The company has a 50-day simple moving average of $113.05 and a two-hundred day simple moving average of $108.19.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 20th. The industrial products company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.33. Crown had a return on equity of 27.33% and a net margin of 5.91%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the previous year, the business earned $2.15 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities analysts forecast that Crown will post 8.39 earnings per share for the current year.

Institutional Trading of Crown

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Crown in the second quarter valued at about $112,578,000. Nykredit A S acquired a new stake in shares of Crown during the second quarter worth about $99,537,000. SEB Asset Management AB acquired a new stake in shares of Crown during the first quarter worth about $54,291,000. Assenagon Asset Management S.A. acquired a new stake in shares of Crown during the second quarter worth about $60,275,000. Finally, Quantinno Capital Management LP boosted its position in Crown by 19.3% in the first quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company’s stock valued at $115,979,000 after buying an additional 186,849 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About Crown

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.