Crown (NYSE:CCK) Raised to “Buy” at Wall Street Zen

by · The Markets Daily

Crown (NYSE:CCK – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Other equities research analysts also recently issued research reports about the company. Citigroup decreased their price objective on Crown from $135.00 to $124.00 and set a “buy” rating for the company in a report on Monday, September 29th. Wells Fargo & Company boosted their price target on shares of Crown from $99.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Raymond James Financial restated an “outperform” rating and set a $115.00 price objective (up previously from $110.00) on shares of Crown in a report on Wednesday, October 22nd. Royal Bank Of Canada raised their price objective on shares of Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Truist Financial lifted their price objective on shares of Crown from $126.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.62.

Get Our Latest Stock Report on CCK

Crown Price Performance

Shares of NYSE CCK opened at $104.12 on Friday. The firm has a market capitalization of $12.01 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.20 and a beta of 0.75. The firm’s 50-day moving average price is $100.36 and its 200-day moving average price is $99.27. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 1.65. Crown has a 1-year low of $75.98 and a 1-year high of $109.48.

Crown (NYSE:CCK – Get Free Report) last issued its earnings results on Monday, October 20th. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.26. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.13 billion. Crown had a return on equity of 26.86% and a net margin of 7.79%.The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. Equities research analysts anticipate that Crown will post 6.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 29,024 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $105.00, for a total transaction of $3,047,520.00. Following the transaction, the chief executive officer directly owned 411,556 shares in the company, valued at approximately $43,213,380. This represents a 6.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $101.02, for a total value of $1,995,549.08. Following the transaction, the chief operating officer directly owned 96,841 shares in the company, valued at approximately $9,782,877.82. This represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 57,254 shares of company stock valued at $5,933,134. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Earned Wealth Advisors LLC boosted its stake in shares of Crown by 15.9% in the 4th quarter. Earned Wealth Advisors LLC now owns 2,910 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 399 shares in the last quarter. Blue Trust Inc. boosted its position in Crown by 183.5% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the industrial products company’s stock valued at $188,000 after buying an additional 1,180 shares during the period. Compagnie Lombard Odier SCmA grew its stake in shares of Crown by 79.2% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 12,672 shares of the industrial products company’s stock valued at $1,305,000 after buying an additional 5,600 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Crown in the fourth quarter worth about $618,000. Finally, Foster & Motley Inc. increased its holdings in shares of Crown by 80.3% in the fourth quarter. Foster & Motley Inc. now owns 15,044 shares of the industrial products company’s stock worth $1,549,000 after buying an additional 6,698 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

About Crown

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Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.

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