Crown (NYSE:CCK) Earns Outperform Rating from Royal Bank of Canada

Crown (NYSE:CCK)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They presently have a $105.00 target price on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 10.83% from the stock’s current price.

Several other brokerages also recently commented on CCK. Bank of America increased their price target on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays raised their target price on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Truist Financial lifted their target price on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Citigroup upped their price target on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Morgan Stanley lifted their price objective on Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.14.

Crown Stock Down 1.0 %

CCK stock opened at $94.74 on Tuesday. The firm has a market cap of $11.43 billion, a PE ratio of 27.30, a PEG ratio of 2.26 and a beta of 0.85. Crown has a 1 year low of $69.61 and a 1 year high of $96.74. The company has a fifty day simple moving average of $88.52 and a 200 day simple moving average of $82.51. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Sell-side analysts anticipate that Crown will post 6.15 EPS for the current fiscal year.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,006 shares of company stock worth $2,694,849. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of Crown during the 1st quarter worth about $27,000. Quest Partners LLC acquired a new stake in shares of Crown during the fourth quarter worth approximately $34,000. Mather Group LLC. bought a new position in shares of Crown in the first quarter valued at approximately $32,000. Quarry LP boosted its holdings in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Crown during the 1st quarter worth approximately $41,000. 90.93% of the stock is owned by institutional investors.

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.