Crown (NYSE:CCK) Stock Rating Lowered by Wall Street Zen

Crown (NYSE:CCK) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts have also weighed in on the company. Citigroup increased their price target on Crown from $137.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Raymond James Financial raised their target price on Crown from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Jefferies Financial Group set a $121.00 price objective on Crown in a research note on Wednesday, July 22nd. Truist Financial reaffirmed a “buy” rating and set a $141.00 price target (up from $129.00) on shares of Crown in a research report on Wednesday, July 22nd. Finally, Bank of America lifted their target price on Crown from $129.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.47.

Crown Price Performance

Shares of NYSE:CCK opened at $119.30 on Friday. The business’s 50 day moving average is $112.79 and its 200-day moving average is $108.45. Crown has a 1-year low of $91.31 and a 1-year high of $122.91. The firm has a market capitalization of $12.89 billion, a PE ratio of 16.62, a PEG ratio of 1.49 and a beta of 0.54. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.13. Crown had a net margin of 5.78% and a return on equity of 27.41%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the firm posted $2.24 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts predict that Crown will post 8.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Crown by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,123 shares of the industrial products company’s stock valued at $198,186,000 after acquiring an additional 32,112 shares during the period. Quantinno Capital Management LP increased its stake in Crown by 19.3% in the 1st quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company’s stock worth $115,979,000 after acquiring an additional 186,849 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Crown in the second quarter worth $112,578,000. Nykredit A S bought a new position in shares of Crown during the 2nd quarter valued at $99,537,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Crown in the second quarter worth approximately $60,275,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Company Profile

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.