Crown (NYSE:CCK) Stock Rating Lowered by Robert W. Baird

Crown (NYSE:CCKGet Free Report) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat reports. They currently have a $105.00 price target on the industrial products company’s stock. Robert W. Baird’s target price suggests a potential downside of 1.23% from the stock’s current price.

CCK has been the subject of several other research reports. Citigroup raised their price target on Crown from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada raised their price objective on Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Morgan Stanley raised their price objective on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company raised their price objective on Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $119.45.

View Our Latest Stock Report on Crown

Crown Stock Up 0.0%

Crown stock opened at $106.31 on Thursday. Crown has a twelve month low of $75.98 and a twelve month high of $109.48. The stock has a 50 day moving average of $102.07 and a two-hundred day moving average of $92.57. The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.74 and a beta of 0.76.

Crown (NYSE:CCKGet Free Report) last issued its 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. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 26.98% and a net margin of 4.62%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. As a group, research analysts expect that Crown will post 6.96 earnings per share for the current year.

Insider Transactions at Crown

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its position in Crown by 412.2% in the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company’s stock worth $153,464,000 after purchasing an additional 1,383,624 shares during the last quarter. Norges Bank bought a new position in Crown in the 4th quarter worth approximately $113,568,000. Swedbank AB raised its position in Crown by 114.7% in the 1st quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company’s stock worth $131,798,000 after purchasing an additional 788,818 shares during the last quarter. Vulcan Value Partners LLC raised its position in Crown by 450.5% in the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company’s stock worth $68,027,000 after purchasing an additional 674,072 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Crown by 146.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,008,500 shares of the industrial products company’s stock worth $83,393,000 after purchasing an additional 599,000 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

About Crown

(Get Free Report)

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.

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Analyst Recommendations for Crown (NYSE:CCK)

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