Crown (NYSE:CCK) Coverage Initiated by Analysts at UBS Group

UBS Group initiated coverage on shares of Crown (NYSE:CCKGet Rating) in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $105.00 price objective on the industrial products company’s stock.

CCK has been the topic of a number of other reports. Wells Fargo & Company dropped their price objective on shares of Crown from $110.00 to $100.00 and set an equal weight rating on the stock in a report on Monday, July 18th. Citigroup dropped their price objective on shares of Crown from $130.00 to $126.00 in a report on Friday, July 22nd. Truist Financial dropped their price objective on shares of Crown from $147.00 to $130.00 and set a buy rating on the stock in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown from $137.00 to $135.00 in a research report on Tuesday, July 19th. Finally, Morgan Stanley decreased their target price on shares of Crown from $135.00 to $130.00 and set an overweight rating for the company in a research report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $129.73.

Crown Price Performance

NYSE CCK opened at $97.44 on Thursday. The firm’s fifty day simple moving average is $95.06 and its two-hundred day simple moving average is $105.26. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 2.50. Crown has a 12-month low of $85.85 and a 12-month high of $130.42. The firm has a market capitalization of $11.81 billion, a P/E ratio of -32.59, a P/E/G ratio of 2.51 and a beta of 1.15.

Crown (NYSE:CCKGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.20 billion. Crown had a negative net margin of 3.07% and a positive return on equity of 40.47%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 earnings per share. Analysts forecast that Crown will post 7.75 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.90%. Crown’s dividend payout ratio (DPR) is currently -29.43%.

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 500 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $93.90, for a total value of $46,950.00. Following the completion of the transaction, the vice president now owns 4,894 shares in the company, valued at $459,546.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CCK. Connable Office Inc. boosted its position in shares of Crown by 4.0% during the 4th quarter. Connable Office Inc. now owns 2,840 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 108 shares during the period. Quent Capital LLC boosted its position in shares of Crown by 92.7% during the 1st quarter. Quent Capital LLC now owns 237 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 114 shares during the period. Veritable L.P. boosted its position in shares of Crown by 3.3% during the 1st quarter. Veritable L.P. now owns 3,713 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 117 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of Crown by 3.1% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,040 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 120 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of Crown by 0.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,024 shares of the industrial products company’s stock worth $1,551,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

About Crown

(Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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