Crown (NYSE:CCK) Upgraded by Robert W. Baird to Outperform

Robert W. Baird upgraded shares of Crown (NYSE:CCK) from a neutral rating to an outperform rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $90.00 price target on the industrial products company’s stock, up from their prior price target of $85.00.

CCK has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded shares of Crown from a neutral rating to an overweight rating and set a $85.00 price objective for the company in a research report on Wednesday, February 7th. Truist Financial reiterated a hold rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Wolfe Research started coverage on shares of Crown in a research report on Friday, March 1st. They issued an outperform rating and a $102.00 price objective for the company. Mizuho decreased their price objective on shares of Crown from $105.00 to $96.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Finally, UBS Group started coverage on shares of Crown in a research report on Tuesday, January 16th. They issued a buy rating and a $112.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Crown presently has a consensus rating of Moderate Buy and a consensus price target of $99.21.

Crown Trading Up 0.6 %

NYSE CCK opened at $76.92 on Tuesday. The company has a market capitalization of $9.29 billion, a PE ratio of 20.46, a P/E/G ratio of 2.60 and a beta of 0.91. The company has a fifty day moving average of $76.76 and a 200 day moving average of $82.88. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Research analysts forecast that Crown will post 5.91 earnings per share for the current year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio is currently 26.60%.

Institutional Trading of Crown

Several large investors have recently bought and sold shares of CCK. BluePath Capital Management LLC purchased a new stake in Crown during the 3rd quarter valued at about $25,000. Sound Income Strategies LLC purchased a new stake in Crown during the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in Crown during the 1st quarter valued at about $27,000. Mather Group LLC. purchased a new stake in Crown during the 1st quarter valued at about $32,000. Finally, Quest Partners LLC purchased a new stake in Crown during the 4th quarter valued at about $34,000. 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.