Crown (NYSE:CCK) Price Target Increased to $97.00 by Analysts at Wells Fargo & Company

18 Oct 2024, 10:28 by Michael Walen · The Markets Daily

Crown (NYSE:CCK – Free Report) had its price objective upped by Wells Fargo & Company from $88.00 to $97.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on CCK. Truist Financial lifted their price objective on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday. UBS Group lowered their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Loop Capital increased their price target on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America lifted their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average price target of $103.07.

View Our Latest Research Report on CCK

Crown Price Performance

CCK stock opened at $93.80 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The company’s fifty day moving average price is $91.42 and its 200-day moving average price is $84.23. Crown has a one year low of $69.61 and a one year high of $96.74. The company has a market capitalization of $11.33 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK – Get Free Report) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Crown will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Transactions at Crown

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

Institutional Investors Weigh In On Crown

A number of institutional investors and hedge funds have recently bought and sold shares of CCK. Rise Advisors LLC purchased a new position in shares of Crown during the first quarter valued at $27,000. GAMMA Investing LLC increased its position in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares during the period. Mather Group LLC. purchased a new stake in shares of Crown in the 1st quarter worth approximately $32,000. Quarry LP boosted its stake in shares of Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Crown during the first quarter valued at approximately $41,000. 90.93% of the stock is owned by institutional investors.

About Crown

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