Crown (NYSE:CCK) Price Target Raised to $105.00 at Wells Fargo & Company

Crown (NYSE:CCK) had its target price raised by Wells Fargo & Company from $97.00 to $105.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 8.77% from the stock’s previous close.

A number of other research analysts have also commented on CCK. UBS Group dropped their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Mizuho set a $110.00 target price on shares of Crown in a research report on Friday. Loop Capital lifted their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup lifted their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Barclays boosted their price objective on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.31.

Crown Price Performance

CCK stock traded down $1.22 during midday trading on Monday, reaching $96.53. The stock had a trading volume of 252,164 shares, compared to its average volume of 1,130,771. Crown has a 52-week low of $69.61 and a 52-week high of $98.46. 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 company has a market cap of $11.66 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The company’s fifty day simple moving average is $91.66 and its 200 day simple moving average is $84.45.

Crown (NYSE:CCK) last released its 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. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 EPS. As a group, sell-side analysts predict that Crown will post 6.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’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 transaction, the chief executive officer now owns 571,178 shares in the company, valued at approximately $53,119,554. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 completion of the transaction, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at $53,119,554. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold 38,506 shares of company stock worth $3,392,349 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crown

Several institutional investors have recently added to or reduced their stakes in the company. Sessa Capital IM L.P. lifted its position in Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Crown during the first quarter valued at $119,167,000. AQR Capital Management LLC boosted its holdings in Crown by 121.7% in the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after acquiring an additional 404,250 shares during the last quarter. Metropolis Capital Ltd acquired a new stake in Crown in the second quarter worth about $29,291,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Crown during the 1st quarter valued at about $29,981,000. 90.93% of the stock is 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.