Crown (NYSE:CCK) PT Raised to $103.00 at Truist Financial

Crown (NYSE:CCK) had its price objective increased by analysts at Truist Financial from $95.00 to $103.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 9.54% from the stock’s current price.

A number of other research analysts also recently commented on CCK. Bank of America increased their price objective on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays increased their price objective 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. Loop Capital increased their price objective on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price target on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, UBS Group reduced their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Crown Price Performance

Shares of CCK stock opened at $94.03 on Tuesday. The company has a market capitalization of $11.35 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The firm has a fifty day simple moving average of $91.10 and a 200-day simple moving average of $84.10. 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 has a twelve month low of $69.61 and a twelve month high of $96.74.

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

Insider Buying and Selling

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 transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,506 shares of company stock valued at $3,392,349 in the last quarter. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC grew its stake in shares of Crown by 10.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after purchasing an additional 14,362 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Crown by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after buying an additional 173,460 shares during the period. Empowered Funds LLC acquired a new position in shares of Crown in the first quarter worth about $6,854,000. Russell Investments Group Ltd. boosted its holdings in shares of Crown by 21.0% in the first quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after buying an additional 59,267 shares during the period. Finally, Entropy Technologies LP boosted its holdings in shares of Crown by 1,127.4% in the first quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company’s stock worth $2,176,000 after buying an additional 25,219 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.