Crown (NYSE:CCK) Given New $108.00 Price Target at UBS Group

Crown (NYSE:CCK) had its price target reduced by UBS Group from $113.00 to $108.00 in a research report sent to investors on Friday,Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the company. Bank of America dropped their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup boosted their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada boosted their price objective on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.92.

Crown Stock Down 1.5 %

Shares of CCK opened at $78.84 on Friday. The business’s 50 day moving average is $87.96 and its 200 day moving average is $87.68. The company has a market capitalization of $9.43 billion, a PE ratio of 97.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. Crown has a 12-month low of $69.61 and a 12-month high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Research analysts expect that Crown will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is 123.46%.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd increased its position in Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group acquired a new position in Crown during the 3rd quarter valued at about $44,000. Catalyst Capital Advisors LLC acquired a new position in Crown during the 3rd quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown during the 3rd quarter valued at about $55,000. 90.93% of the stock is owned by institutional investors.

Crown Company Profile

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.