Crown (CCK) Upgraded at TheStreet

TheStreet upgraded shares of Crown (NYSE:CCK) from a c+ rating to a b- rating in a research note released on Wednesday.

Other equities analysts have also recently issued research reports about the company. UBS Group dropped their price target on Crown from $59.00 to $50.00 and set a $44.54 rating on the stock in a research report on Thursday, July 19th. JPMorgan Chase & Co. dropped their price target on Crown from $69.00 to $68.00 and set a buy rating on the stock in a research report on Monday, July 23rd. Royal Bank of Canada restated a buy rating and issued a $60.00 price target on shares of Crown in a research report on Friday, July 20th. Citigroup dropped their price target on Crown from $60.00 to $56.00 and set a buy rating on the stock in a research report on Friday, July 20th. Finally, Zacks Investment Research upgraded Crown from a sell rating to a hold rating in a research report on Friday, October 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $59.67.

Shares of CCK stock opened at $46.08 on Wednesday. The stock has a market capitalization of $6.49 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.32 and a beta of 1.37. Crown has a 52-week low of $40.09 and a 52-week high of $62.27. The company has a debt-to-equity ratio of 8.12, a quick ratio of 0.69 and a current ratio of 1.18.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, July 18th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.03). The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Crown had a net margin of 3.14% and a return on equity of 58.64%. The business’s revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. As a group, equities research analysts forecast that Crown will post 5.21 EPS for the current fiscal year.

In other Crown news, Director William S. Urkiel bought 2,500 shares of the company’s stock in a transaction on Friday, August 17th. The shares were bought at an average price of $40.25 per share, for a total transaction of $100,625.00. Following the transaction, the director now owns 46,594 shares of the company’s stock, valued at approximately $1,875,408.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William S. Urkiel bought 1,500 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were acquired at an average price of $44.30 per share, for a total transaction of $66,450.00. Following the transaction, the director now directly owns 44,094 shares in the company, valued at approximately $1,953,364.20. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Crown by 478.0% during the 2nd quarter. FMR LLC now owns 3,515,309 shares of the industrial products company’s stock worth $157,345,000 after purchasing an additional 2,907,112 shares during the period. Boston Partners boosted its stake in shares of Crown by 2.1% during the 2nd quarter. Boston Partners now owns 3,204,988 shares of the industrial products company’s stock worth $143,455,000 after acquiring an additional 66,751 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Crown by 33.2% during the 2nd quarter. Cooke & Bieler LP now owns 2,985,433 shares of the industrial products company’s stock worth $133,628,000 after acquiring an additional 744,059 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Crown by 75,664.0% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,235,037 shares of the industrial products company’s stock worth $100,040,000 after acquiring an additional 2,232,087 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Crown by 70,046.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,609,151 shares of the industrial products company’s stock worth $71,688,000 after acquiring an additional 1,606,857 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

Crown Company Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.

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Analyst Recommendations for Crown (NYSE:CCK)

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