Crown’s (CCK) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Crown (NYSE:CCK) in a research note issued to investors on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $105.00 price objective on the industrial products company’s stock.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Crown from a buy rating to a hold rating in a report on Monday, September 9th. UBS Group reduced their target price on shares of Crown from $112.00 to $91.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company increased their price target on Crown from $85.00 to $88.00 and gave the company an equal weight rating in a report on Wednesday, July 24th. Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, Barclays increased their target price on Crown from $95.00 to $100.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $101.14.

Crown Stock Performance

NYSE:CCK opened at $94.74 on Tuesday. The company has a market cap of $11.44 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.26 and a beta of 0.85. The firm’s 50 day moving average is $89.21 and its two-hundred day moving average is $82.71. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.74. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $1.68 EPS. Analysts expect that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Transactions at Crown

In other news, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares in the company, valued at $1,187,734.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,006 shares of company stock valued at $2,694,849. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in shares of Crown during the 1st quarter valued at about $27,000. Quest Partners LLC bought a new position in shares of Crown during the fourth quarter valued at approximately $34,000. Mather Group LLC. acquired a new stake in shares of Crown during the 1st quarter worth approximately $32,000. Quarry LP lifted its holdings in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Crown during the 1st quarter worth $41,000. 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.