Crown (NYSE:CCK) Cut to Hold at StockNews.com

StockNews.com lowered shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research report released on Tuesday.

Several other analysts have also commented on the stock. UBS Group decreased their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays increased their target price on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Bank of America cut their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup raised their price objective on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on Crown from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and an average target price of $105.46.

Crown Trading Up 0.8 %

Shares of NYSE:CCK opened at $88.58 on Tuesday. The company has a market capitalization of $10.60 billion, a PE ratio of 109.35, a P/E/G ratio of 1.68 and a beta of 0.86. 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 has a 12-month low of $69.61 and a 12-month high of $98.46. The business’s fifty day simple moving average is $86.16 and its 200-day simple moving average is $88.89.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s 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 transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd boosted its holdings in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new position in Crown in the third quarter valued at $44,000. Catalyst Capital Advisors LLC acquired a new position in shares of Crown in the third quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Crown during the 3rd quarter worth about $55,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.