Crown (NYSE:CCK) Given New $105.00 Price Target at Morgan Stanley

Crown (NYSE:CCK – Get Rating) had its target price decreased by Morgan Stanley from $110.00 to $105.00 in a report released on Tuesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

A number of other research firms also recently commented on CCK. UBS Group reduced their target price on Crown from $105.00 to $90.00 and set a neutral rating on the stock in a report on Thursday, December 15th. Robert W. Baird downgraded Crown from an outperform rating to a neutral rating and set a $80.00 target price on the stock. in a report on Wednesday, January 4th. Royal Bank of Canada reduced their target price on Crown from $110.00 to $81.00 and set an outperform rating on the stock in a report on Friday, October 28th. Deutsche Bank Aktiengesellschaft cut their price target on Crown from $115.00 to $109.00 and set a buy rating on the stock in a report on Monday, October 24th. Finally, Wells Fargo & Company raised their price target on Crown from $76.00 to $80.00 and gave the stock an equal weight rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Crown currently has a consensus rating of Moderate Buy and a consensus target price of $96.07.

Crown Price Performance

Shares of NYSE CCK opened at $85.24 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 1.24 and a debt-to-equity ratio of 3.14. The business has a 50 day moving average price of $80.57 and a two-hundred day moving average price of $86.61. Crown has a fifty-two week low of $66.00 and a fifty-two week high of $130.42. The firm has a market cap of $10.22 billion, a PE ratio of -31.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07.

Crown (NYSE:CCK – Get Rating) last released its earnings results on Monday, October 24th. The industrial products company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.30). Crown had a positive return on equity of 39.93% and a negative net margin of 2.80%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the business earned $2.03 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Crown will post 6.66 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Thursday, November 10th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, November 9th. Crown’s payout ratio is currently -32.35%.

Hedge Funds Weigh In On Crown

Several hedge funds have recently modified their holdings of CCK. Fairfield Bush & CO. acquired a new position in shares of Crown during the 1st quarter valued at $143,000. US Bancorp DE increased its position in shares of Crown by 9.6% during the 1st quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 308 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Crown by 30.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 666 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Crown during the 1st quarter valued at $392,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Crown by 43.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock valued at $8,318,000 after purchasing an additional 19,046 shares during the period.

About Crown

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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.