Analysts Set Crown Holdings, Inc. (NYSE:CCK) Target Price at $106.62

Shares of Crown Holdings, Inc. (NYSE:CCK) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $106.62.

A number of brokerages have recently commented on CCK. Citigroup raised their price objective on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada boosted their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st.

Insider Buying and Selling

In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crown

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

Crown Stock Down 0.4 %

CCK stock opened at $92.03 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The business’s 50-day moving average price is $93.40 and its 200-day moving average price is $87.24. The stock has a market cap of $11.01 billion, a P/E ratio of 113.61, a PEG ratio of 2.05 and a beta of 0.84.

Crown (NYSE:CCK) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, equities research analysts forecast that Crown will post 6.34 EPS for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.09%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

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.