Barclays Cuts Crown (NYSE:CCK) Price Target to $109.00

Crown (NYSE:CCK) had its price objective decreased by Barclays from $112.00 to $109.00 in a report issued on Monday,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Several other research firms have also commented on CCK. Loop Capital raised their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup raised their target price on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average price target of $105.69.

Crown Price Performance

NYSE:CCK opened at $88.31 on Monday. Crown has a 52 week low of $70.84 and a 52 week high of $98.46. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.68 and a beta of 0.87. The firm’s 50-day simple moving average is $85.24 and its 200 day simple moving average is $89.39. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.84 and a current ratio of 1.22.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, sell-side analysts predict that Crown will post 6.83 earnings per share for the current year.

Institutional Investors Weigh In On Crown

Several hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares during the period. TD Private Client Wealth LLC boosted its position in Crown by 4.6% during the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock worth $237,000 after buying an additional 125 shares during the period. Spire Wealth Management boosted its position in Crown by 16.2% during the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock worth $82,000 after buying an additional 138 shares during the period. Marshall & Sullivan Inc. WA boosted its position in Crown by 0.3% during the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after buying an additional 155 shares during the period. Finally, GAMMA Investing LLC boosted 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 worth $30,000 after buying an additional 163 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.