Crown (NYSE:CCK) Price Target Raised to $113.00 at Royal Bank of Canada

Crown (NYSE:CCK) had its price target increased by Royal Bank of Canada from $105.00 to $113.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other research firms have also recently commented on CCK. UBS Group lowered their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Mizuho set a $110.00 price objective on shares of Crown in a research note on Friday, October 18th. Robert W. Baird upped their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Stock Performance

Shares of CCK opened at $96.00 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The firm has a market cap of $11.59 billion, a PE ratio of 27.66, a P/E/G ratio of 2.19 and a beta of 0.86. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The stock has a fifty day moving average price of $92.25 and a 200-day moving average price of $84.80.

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

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares of the company’s stock, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,506 shares of company stock valued at $2,116,899. 0.90% of the stock is owned by company insiders.

Institutional Trading of Crown

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of 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. EntryPoint Capital LLC acquired a new position in Crown during the first quarter worth $41,000. Trivant Custom Portfolio Group LLC purchased a new position in Crown during the first quarter valued at $43,000. Blue Trust Inc. grew its position in shares of Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 176 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

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.