Crown (NYSE:CCK) Price Target Raised to $104.00 at Truist Financial

Crown (NYSE:CCK) had its target price boosted by stock analysts at Truist Financial from $103.00 to $104.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 29.13% from the company’s previous close.

Several other research analysts have also issued reports on CCK. Barclays increased their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Citigroup increased their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Robert W. Baird lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $106.69.

Crown Stock Performance

Shares of CCK stock opened at $80.54 on Monday. The firm has a 50 day moving average of $89.13 and a 200-day moving average of $87.67. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 99.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. 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 52 week low of $69.61 and a 52 week high of $98.46.

Crown (NYSE:CCK) last posted its quarterly 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 net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, equities analysts forecast that Crown will post 6.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd increased its stake in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown in the 3rd quarter valued at about $44,000. Catalyst Capital Advisors LLC bought a new stake in shares of Crown during the 3rd quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Crown in the third quarter worth approximately $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.