Wells Fargo & Company Issues Positive Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price objective increased by equities research analysts at Wells Fargo & Company from $86.00 to $90.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 1.88% from the company’s previous close.

A number of other research firms also recently commented on CCK. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Robert W. Baird upped their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. UBS Group cut their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $109.00 to $105.00 in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.77.

Crown Trading Up 1.1 %

CCK stock opened at $88.34 on Friday. The company has a market capitalization of $10.57 billion, a PE ratio of 109.06, a P/E/G ratio of 1.70 and a beta of 0.87. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown has a 12 month low of $70.84 and a 12 month high of $98.46. The firm’s 50-day moving average is $85.66 and its 200 day moving average is $89.23.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, research analysts anticipate that Crown will post 6.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCK. GAMMA Investing LLC raised its holdings in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares in the last quarter. Covestor Ltd increased its holdings in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown during the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC purchased a new position in Crown in the 3rd quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown during the third quarter worth $55,000. 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.