Crown (NYSE:CCK) Price Target Increased to $105.00 by Analysts at Royal Bank of Canada

Crown (NYSE:CCK) had its target price lifted by investment analysts at Royal Bank of Canada from $96.00 to $105.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 21.54% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Citigroup upped their target price on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company upped their target price on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday. Morgan Stanley upped their target price on Crown from $89.00 to $92.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays upped their target price on Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Truist Financial upped their target price on Crown from $88.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

Crown Trading Up 1.8 %

CCK stock traded up $1.49 during midday trading on Friday, hitting $86.39. The company had a trading volume of 40,439 shares, compared to its average volume of 1,143,494. The company has a current ratio of 1.05, a quick ratio of 0.77 and a debt-to-equity ratio of 2.00. Crown has a 52 week low of $69.61 and a 52 week high of $95.31. The stock’s 50 day moving average price is $79.17 and its 200 day moving average price is $80.27. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.20 and a beta of 0.85.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Crown will post 6.07 earnings per share for the current fiscal year.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the sale, the chief executive officer now owns 608,678 shares in the company, valued at approximately $51,737,630. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the completion of the transaction, the chief executive officer now owns 608,678 shares in the company, valued at approximately $51,737,630. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the transaction, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock worth $4,575,870 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crown

A number of large investors have recently added to or reduced their stakes in CCK. Vanguard Group Inc. boosted its stake in Crown by 1.5% during the first quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after buying an additional 176,639 shares during the period. Victory Capital Management Inc. grew its stake in shares of Crown by 7.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock worth $473,039,000 after purchasing an additional 350,265 shares during the period. William Blair Investment Management LLC boosted its position in shares of Crown by 2.0% in the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock worth $224,020,000 after buying an additional 56,604 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Crown by 7.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock valued at $233,632,000 after purchasing an additional 186,387 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Crown by 7.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock valued at $185,409,000 after purchasing an additional 133,813 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.