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 to investors on Monday.

A number of other analysts also recently weighed in on the stock. UBS Group reduced their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Wells Fargo & Company upped their target price on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley increased their price objective on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Truist Financial increased their price objective on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Price Performance

CCK traded down $0.46 on Monday, reaching $90.90. The company had a trading volume of 931,168 shares, compared to its average volume of 1,151,183. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 2.16 and a beta of 0.85. Crown has a 52-week low of $69.61 and a 52-week high of $93.79. The business has a 50 day simple moving average of $84.04 and a 200 day simple moving average of $81.17. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

Crown (NYSE:CCK) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. As a group, sell-side analysts anticipate that Crown will post 6.15 EPS for the current year.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $2,598,675 over the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Crown

Institutional investors and hedge funds have recently bought and sold shares of the company. Sessa Capital IM L.P. raised its holdings in Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after buying an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Crown during the first quarter valued at approximately $119,167,000. Norges Bank acquired a new position in shares of Crown in the 4th quarter worth approximately $109,826,000. Clearbridge Investments LLC lifted its holdings in Crown by 474.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after buying an additional 1,003,312 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Crown during the 4th quarter valued at $84,960,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.