UBS Group Cuts Crown (NYSE:CCK) Price Target to $108.00

Crown (NYSE:CCK) had its price objective dropped by investment analysts at UBS Group from $113.00 to $108.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price objective points to a potential upside of 36.71% from the company’s current price.

A number of other brokerages have also commented on CCK. Barclays boosted their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial upped their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday. Royal Bank of Canada increased their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company cut their target price on Crown from $105.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.92.

Crown Stock Performance

Shares of CCK stock traded down $1.02 during mid-day trading on Friday, reaching $79.00. The stock had a trading volume of 715,336 shares, compared to its average volume of 955,522. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The firm has a market cap of $9.45 billion, a PE ratio of 97.53, a P/E/G ratio of 1.95 and a beta of 0.86. Crown has a one year low of $69.61 and a one year high of $98.46. The firm’s 50 day simple moving average is $87.96 and its 200 day simple moving average is $87.68.

Crown (NYSE:CCK) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, analysts forecast that Crown will post 6.34 EPS for the current year.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on 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 owns 114,402 shares in the company, valued at approximately $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 large investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after buying an additional 749,085 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after acquiring an additional 412,973 shares during the last quarter. State Street Corp increased its holdings in Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares during the last quarter. Sessa Capital IM L.P. increased its holdings in Crown by 153.0% in the 2nd 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 acquiring an additional 1,989,374 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Crown by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock valued at $197,242,000 after acquiring an additional 82,764 shares during the last quarter. Hedge funds and other institutional investors 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.