Loop Capital Increases Crown (NYSE:CCK) Price Target to $120.00

Crown (NYSE:CCK) had its price objective lifted by Loop Capital from $106.00 to $120.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the company. UBS Group cut their price target on Crown from $112.00 to $91.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Citigroup cut their target price on Crown from $102.00 to $94.00 and set a buy rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company increased their price target on Crown from $84.00 to $85.00 and gave the stock an equal weight rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Crown from $85.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird increased their target price on shares of Crown from $90.00 to $100.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $100.21.

Crown Trading Up 0.9 %

NYSE:CCK opened at $85.66 on Wednesday. Crown has a 12-month low of $69.61 and a 12-month high of $95.31. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.77. The business has a 50 day simple moving average of $79.16 and a 200 day simple moving average of $80.31. The firm has a market capitalization of $10.34 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.20 and a beta of 0.85.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Equities research analysts predict that Crown will post 6.07 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, August 15th. Crown’s dividend payout ratio is presently 28.82%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the sale, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now directly owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,000 shares of company stock valued at $4,575,870. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in shares of Crown by 14.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Crown by 5.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock worth $282,000 after acquiring an additional 154 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Crown by 6.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 160 shares during the period. Finally, Fifth Third Bancorp grew its stake in Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds 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.