Crown Holdings, Inc. (NYSE:CCK) Receives $117.55 Consensus Price Target from Brokerages

Crown Holdings, Inc. (NYSE:CCK) has received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $119.09.

CCK has been the topic of a number of research reports. Citigroup upped their price target on Crown from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Bank of America increased their price objective on Crown from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. UBS Group increased their price objective on Crown from $114.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Wall Street Zen raised Crown from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 28th. Finally, Morgan Stanley increased their price objective on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 25th.

Insider Transactions at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president directly owned 4,500 shares of the company’s stock, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer directly owned 135,014 shares of the company’s stock, valued at $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Trading of Crown

A number of large investors have recently bought and sold shares of CCK. Jones Financial Companies Lllp increased its position in Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after buying an additional 647 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Crown in the fourth quarter worth $1,884,000. Raymond James Financial Inc. bought a new position in shares of Crown in the fourth quarter worth $8,466,000. Daiwa Securities Group Inc. boosted its holdings in shares of Crown by 2.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company’s stock worth $775,000 after acquiring an additional 200 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Crown by 12.1% in the fourth quarter. HighTower Advisors LLC now owns 11,698 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 1,266 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Up 0.8%

CCK stock opened at $106.48 on Monday. The stock’s 50 day simple moving average is $101.71 and its 200 day simple moving average is $92.23. Crown has a fifty-two week low of $75.98 and a fifty-two week high of $109.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87. The company has a market cap of $12.39 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.73 and a beta of 0.76.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. Crown had a return on equity of 26.98% and a net margin of 4.62%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business earned $1.02 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts expect that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 15th. Crown’s payout ratio is 22.37%.

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.