Crown (NYSE:CCK) Raised to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Crown (NYSE:CCK) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat reports. Robert W. Baird currently has $90.00 price target on the industrial products company’s stock, up from their prior price target of $85.00.

Other research analysts have also recently issued reports about the company. Wolfe Research started coverage on Crown in a research note on Friday, March 1st. They issued an outperform rating and a $102.00 price objective for the company. JPMorgan Chase & Co. raised shares of Crown from a neutral rating to an overweight rating and set a $85.00 price target for the company in a research report on Wednesday, February 7th. Morgan Stanley initiated coverage on shares of Crown in a report on Monday, March 18th. They issued an equal weight rating and a $87.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Crown from $78.00 to $76.00 and set an equal weight rating for the company in a report on Thursday, April 11th. Finally, UBS Group initiated coverage on shares of Crown in a research report on Tuesday, January 16th. They set a buy rating and a $112.00 target price for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $99.21.

Crown Trading Up 1.0 %

NYSE CCK opened at $76.97 on Tuesday. Crown has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a fifty day simple moving average of $76.68 and a two-hundred day simple moving average of $82.97. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The stock has a market cap of $9.30 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.61 and a beta of 0.91.

Crown (NYSE:CCK) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company earned $1.17 earnings per share. Crown’s revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that Crown will post 5.91 earnings per share for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s dividend payout ratio is presently 26.60%.

Hedge Funds Weigh In On Crown

Institutional investors and hedge funds have recently modified their holdings of the business. BluePath Capital Management LLC acquired a new stake in Crown in the third quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new position in shares of Crown during the 4th quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in Crown in the 1st quarter valued at $27,000. Mather Group LLC. purchased a new stake in Crown in the 1st quarter worth $32,000. Finally, Quest Partners LLC acquired a new position in Crown during the fourth quarter worth $34,000. Hedge funds and other 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.