Truist Financial Increases Crown (NYSE:CCK) Price Target to $103.00

Crown (NYSE:CCK) had its price objective lifted by analysts at Truist Financial from $95.00 to $103.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price objective suggests a potential upside of 10.17% from the stock’s previous close.

Several other research firms have also commented on CCK. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a research report on Tuesday, September 24th. Citigroup raised their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Loop Capital raised their target price on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price target on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.43.

Crown Stock Performance

CCK opened at $93.49 on Tuesday. The firm has a 50 day moving average of $90.76 and a two-hundred day moving average of $83.89. The firm has a market capitalization of $11.29 billion, a PE ratio of 26.94, a P/E/G ratio of 2.19 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. Crown has a 12-month low of $69.61 and a 12-month high of $96.74.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that Crown will post 6.15 EPS for the current year.

Insider Buying and Selling

In other Crown 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 value of $697,500.00. Following the completion of the sale, the chief executive officer now owns 571,178 shares in the company, valued at approximately $53,119,554. This represents a 0.00 % decrease in their position. 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 7,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,506 shares of company stock worth $3,392,349. 0.90% of the stock is owned by insiders.

Institutional Trading of Crown

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares during the period. GAMMA Investing LLC raised its stake in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Crown by 36.1% in the 2nd 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 last quarter. CIBC Asset Management Inc increased its holdings in Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 209 shares during the last quarter. Finally, OFI Invest Asset Management raised its position in Crown by 2.2% in the second quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 240 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.