Crown (NYSE:CCK) Given New $104.00 Price Target at Truist Financial

Crown (NYSE:CCK) had its price objective lifted by equities researchers at Truist Financial from $103.00 to $104.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 29.56% from the company’s current price.

CCK has been the subject of several other research reports. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Royal Bank of Canada raised their price objective on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $104.62.

Crown Stock Up 0.2 %

NYSE CCK opened at $80.27 on Monday. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The business has a fifty day moving average price of $88.54 and a two-hundred day moving average price of $87.79. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock has a market capitalization of $9.60 billion, a PE ratio of 99.10, a PEG ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Equities analysts expect that Crown will post 6.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its position in Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 12,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Crown by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock worth $23,878,000 after purchasing an additional 10,295 shares during the period. Sei Investments Co. lifted its holdings in shares of Crown by 139.2% in the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after purchasing an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. grew its position in Crown by 7.8% in the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after purchasing an additional 7,280 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Crown by 62.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock valued at $1,722,000 after purchasing an additional 8,857 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

About Crown

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.