Crown (NYSE:CCK) Rating Lowered to “Hold” at StockNews.com

Crown (NYSE:CCK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts have also issued reports on CCK. Morgan Stanley increased their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Loop Capital lifted their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Bank of America lowered their price target on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup boosted their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised their price target on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.92.

Crown Trading Down 1.5 %

Shares of NYSE CCK opened at $78.84 on Friday. 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 one year low of $69.61 and a one year high of $98.46. The business has a 50-day moving average price of $87.66 and a two-hundred day moving average price of $87.74. The firm has a market capitalization of $9.43 billion, a PE ratio of 97.33, a PEG ratio of 1.95 and a beta of 0.86.

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 the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, analysts predict that Crown will post 6.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 8.04 % 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 institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Crown by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,088 shares of the industrial products company’s stock worth $1,661,000 after buying an additional 256 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Crown during the 4th quarter valued at about $1,051,000. Nordea Investment Management AB increased its stake in Crown by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after acquiring an additional 176,959 shares during the period. Everence Capital Management Inc. acquired a new position in Crown in the fourth quarter worth about $348,000. Finally, GAMMA Investing LLC lifted its stake in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds 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.