Crown (NYSE:CCK) Price Target Raised to $112.00 at Barclays

Crown (NYSE:CCK) had its price objective hoisted by Barclays from $100.00 to $112.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

CCK has been the topic of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a research note on Tuesday, September 24th. Loop Capital upped their price objective on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on Crown from $88.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird upped their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Morgan Stanley upped their target price on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Performance

CCK opened at $95.24 on Monday. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. The firm has a market capitalization of $11.50 billion, a PE ratio of 27.45, a PEG ratio of 2.19 and a beta of 0.86. 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 business’s 50-day simple moving average is $92.40 and its 200 day simple moving average is $84.87.

Crown (NYSE:CCK) last released its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 earnings per share. As a group, sell-side analysts expect that Crown will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. Crown’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock valued at $3,075,799 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the last quarter. Mather Group LLC. bought a new position in shares of Crown in the 1st quarter valued at $32,000. EntryPoint Capital LLC bought a new position in shares of Crown in the 1st quarter valued at $41,000. Trivant Custom Portfolio Group LLC bought a new position in shares of Crown in the 1st quarter valued at $43,000. Finally, Blue Trust Inc. lifted its stake in shares of Crown by 172.6% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 385 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

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.