Crown (NYSE:CCK) Price Target Increased to $102.00 by Analysts at Bank of America

Crown (NYSE:CCK) had its price objective boosted by Bank of America from $98.00 to $102.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird upped their target price on shares of Crown from $90.00 to $100.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Citigroup reduced their price objective on Crown from $102.00 to $94.00 and set a buy rating for the company in a research note on Monday, July 8th. Morgan Stanley boosted their target price on Crown from $89.00 to $92.00 and gave the company an equal weight rating in a report on Wednesday. Barclays upped their price target on Crown from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Crown from $85.00 to $88.00 and gave the company an equal weight rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $100.21.

Crown Trading Up 0.9 %

NYSE:CCK opened at $85.66 on Wednesday. The company has a market capitalization of $10.34 billion, a PE ratio of 24.69, a P/E/G ratio of 2.20 and a beta of 0.85. Crown has a 52-week low of $69.61 and a 52-week high of $95.31. The stock’s 50 day moving average price is $79.16 and its 200 day moving average price is $80.31. The company has a quick ratio of 0.77, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $1.68 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Crown will post 6.07 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling at Crown

In other news, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,000 shares of company stock valued at $4,575,870. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Several institutional investors have recently bought and sold shares of CCK. Raymond James & Associates lifted its holdings in shares of Crown by 19.0% during the 4th quarter. Raymond James & Associates now owns 273,283 shares of the industrial products company’s stock valued at $25,167,000 after acquiring an additional 43,727 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Crown by 87.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,049 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 6,083 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Crown by 68.7% during the fourth quarter. Pacer Advisors Inc. now owns 23,515 shares of the industrial products company’s stock valued at $2,165,000 after purchasing an additional 9,576 shares during the period. Oak Thistle LLC boosted its stake in shares of Crown by 5.3% in the fourth quarter. Oak Thistle LLC now owns 6,871 shares of the industrial products company’s stock valued at $633,000 after purchasing an additional 343 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in Crown by 12.8% during the 4th quarter. DAVENPORT & Co LLC now owns 50,246 shares of the industrial products company’s stock worth $4,627,000 after buying an additional 5,686 shares during the period. 90.93% of the stock is currently owned by hedge funds and other 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.