Mizuho Forecasts Strong Price Appreciation for Crown (NYSE:CCK) Stock

Crown (NYSE:CCK) had its price target hoisted by analysts at Mizuho from $110.00 to $127.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective suggests a potential upside of 19.27% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on Crown from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Bank of America raised their price objective on Crown from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Truist Financial lifted their price objective on Crown from $110.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada increased their target price on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.09.

Crown Price Performance

CCK stock opened at $106.48 on Tuesday. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.73 and a beta of 0.76. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. Crown has a 52-week low of $75.98 and a 52-week high of $109.48. The stock’s fifty day simple moving average is $101.71 and its 200-day simple moving average is $92.23.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) 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 firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company earned $1.02 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Crown will post 6.96 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Crown

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Crown by 155.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 1,091 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Crown by 110.3% during the first quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company’s stock worth $107,000 after buying an additional 630 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Crown in the first quarter worth $820,000. State of Alaska Department of Revenue raised its holdings in Crown by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company’s stock valued at $1,222,000 after acquiring an additional 215 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Crown by 588.0% during the 4th quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company’s stock valued at $460,000 after acquiring an additional 4,757 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other 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.