Crown (NYSE:CCK) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Crown (NYSE:CCK) from a hold rating to a buy rating in a research note released on Thursday morning.

A number of other analysts also recently issued reports on the company. Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Truist Financial upped their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Barclays raised their price target on 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 Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Loop Capital upped their price target 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 issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 1.8 %

Shares of NYSE:CCK opened at $81.21 on Thursday. Crown has a 1 year low of $69.61 and a 1 year high of $98.46. The stock’s fifty day moving average price is $89.40 and its 200-day moving average price is $87.58. 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 company has a market cap of $9.72 billion, a P/E ratio of 100.26, a PEG ratio of 1.95 and a beta of 0.83.

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

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the sale, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at $53,119,554. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $2,381,875 over the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in Crown in the 2nd quarter valued at about $62,000. CIBC Asset Management Inc lifted its holdings in Crown by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares in the last quarter. Jensen Investment Management Inc. boosted its position in Crown by 2.6% in the 2nd quarter. Jensen Investment Management Inc. now owns 93,638 shares of the industrial products company’s stock valued at $6,966,000 after buying an additional 2,410 shares during the period. Candriam S.C.A. increased its position in shares of Crown by 56.4% during the second quarter. Candriam S.C.A. now owns 417,937 shares of the industrial products company’s stock worth $31,089,000 after acquiring an additional 150,655 shares during the period. Finally, Savant Capital LLC increased its position in shares of Crown by 240.8% in the 2nd quarter. Savant Capital LLC now owns 10,797 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 7,629 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.