Crown (NYSE:CCK) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research note published on Tuesday.

CCK has been the topic of a number of other research reports. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Barclays raised their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital increased their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Bank of America decreased their price target on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group cut their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $105.46.

Crown Trading Down 0.8 %

Shares of Crown stock opened at $88.81 on Tuesday. The business has a 50 day moving average price of $86.25 and a 200 day moving average price of $88.90. The company has a market capitalization of $10.62 billion, a P/E ratio of 109.64, a P/E/G ratio of 1.68 and a beta of 0.86. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown has a 1 year low of $69.61 and a 1 year high of $98.46.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after buying an additional 3,074,791 shares in the last quarter. Metropolis Capital Ltd raised its stake in shares of Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after acquiring an additional 1,062,001 shares in the last quarter. Jennison Associates LLC lifted its holdings in Crown by 125.0% in the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after purchasing an additional 751,530 shares during the last quarter. FMR LLC boosted its position in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares during the period. Finally, Swedbank AB grew its holdings in Crown by 379.3% during the fourth quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock valued at $56,870,000 after purchasing an additional 544,246 shares during the last quarter. Hedge funds and other institutional investors 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.