Crown (NYSE:CCK) Given New $101.00 Price Target at Bank of America

Crown (NYSE:CCK) had its target price lowered by investment analysts at Bank of America from $107.00 to $101.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective would indicate a potential upside of 24.69% from the stock’s current price.

CCK has been the topic of several other reports. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays upped their price objective on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley increased their target price on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a report on Friday, October 18th. Finally, Loop Capital increased their target price on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus price target of $105.31.

Crown Stock Performance

Shares of NYSE:CCK traded up $0.46 on Monday, hitting $81.00. The company had a trading volume of 268,493 shares, compared to its average volume of 615,964. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 100.00, a P/E/G ratio of 1.95 and a beta of 0.86. The stock has a 50 day moving average price of $89.13 and a 200 day moving average price of $87.67. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

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

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following 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 trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Crown by 9.3% in the 3rd 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 in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after purchasing an additional 412,973 shares in the last quarter. State Street Corp lifted its holdings in shares of Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock worth $383,559,000 after purchasing an additional 69,260 shares in the last quarter. Sessa Capital IM L.P. lifted its holdings in shares of Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after purchasing an additional 1,989,374 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Crown by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock worth $197,242,000 after purchasing an additional 82,764 shares in the last quarter. Institutional investors and hedge funds 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.