Crown (NYSE:CCK) PT Raised to $92.00 at Morgan Stanley

Crown (NYSE:CCK) had its price target raised by stock analysts at Morgan Stanley from $89.00 to $92.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential upside of 9.06% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Loop Capital lifted their price objective on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup decreased their price target on Crown from $102.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Robert W. Baird upped their price objective on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average target price of $99.21.

Crown Stock Down 0.0 %

Shares of NYSE CCK traded down $0.01 during mid-day trading on Wednesday, reaching $84.36. 1,100,494 shares of the company’s stock traded hands, compared to its average volume of 1,136,478. Crown has a 1-year low of $69.61 and a 1-year high of $96.35. The stock has a market cap of $10.19 billion, a P/E ratio of 24.37, a PEG ratio of 2.04 and a beta of 0.85. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The business has a 50-day simple moving average of $79.16 and a 200 day simple moving average of $80.29.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 24.18% and a net margin of 3.68%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. On average, analysts expect that Crown will post 5.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,000 shares of company stock valued at $4,575,870. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown

A number of institutional investors have recently modified their holdings of CCK. Picton Mahoney Asset Management raised its position in Crown by 14.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Crown by 5.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock worth $282,000 after buying an additional 154 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Crown by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after buying an additional 158 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 160 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 176 shares during the period. 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.