Mizuho Issues Pessimistic Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price target reduced by stock analysts at Mizuho from $110.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective indicates a potential upside of 25.09% from the company’s previous close.

A number of other research analysts have also issued reports on CCK. Bank of America dropped their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday. Loop Capital raised their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley boosted their price objective on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Citigroup raised their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $104.62.

Crown Price Performance

Shares of NYSE:CCK opened at $79.94 on Tuesday. The firm has a 50 day simple moving average of $88.54 and a 200 day simple moving average of $87.79. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 98.69, a PEG ratio of 1.95 and a beta of 0.86. Crown has a one year low of $69.61 and a one year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Research analysts predict that Crown will post 6.34 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Gerard H. Gifford sold 10,000 shares of Crown 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 owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWA Asset Management Group LLC acquired a new position in Crown during the 4th quarter valued at about $1,051,000. Nordea Investment Management AB lifted its holdings in shares of Crown by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after purchasing an additional 176,959 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Crown during the fourth quarter valued at approximately $348,000. GAMMA Investing LLC grew its holdings in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after buying an additional 261 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Crown by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock valued at $87,949,000 after buying an additional 32,909 shares during the last quarter. 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.