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

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

Other analysts have also issued reports about the company. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley boosted 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. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Loop Capital boosted their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Performance

Shares of Crown stock opened at $95.24 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average price of $92.40 and a two-hundred day moving average price of $84.87. Crown has a 1-year low of $69.61 and a 1-year high of $98.46. The company has a market cap of $11.50 billion, a P/E ratio of 27.45, a PEG ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the business posted $1.68 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, analysts anticipate that Crown will post 6.15 EPS for the current year.

Crown Announces Dividend

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

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction 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 in the company, valued at $10,970,007.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction 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 in the company, valued at $10,970,007.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,506 shares of company stock worth $3,075,799 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its holdings in shares of Crown by 6.3% in the third quarter. State of Alaska Department of Revenue now owns 13,845 shares of the industrial products company’s stock worth $1,327,000 after purchasing an additional 815 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Crown by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after acquiring an additional 183 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Crown by 177.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,832 shares of the industrial products company’s stock valued at $1,901,000 after acquiring an additional 12,676 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in Crown by 33.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 5,208 shares of the industrial products company’s stock valued at $499,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Forsta AP Fonden increased its stake in Crown by 29.3% in the third quarter. Forsta AP Fonden now owns 25,600 shares of the industrial products company’s stock valued at $2,455,000 after acquiring an additional 5,800 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Company Profile

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.