Bank of America upgraded shares of Crown (NYSE:CCK) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $62.00 price target on the industrial products company’s stock.
Several other brokerages have also recently issued reports on CCK. ValuEngine raised Crown from a strong sell rating to a sell rating in a report on Wednesday, October 3rd. Zacks Investment Research raised Crown from a sell rating to a hold rating in a report on Friday, October 5th. Citigroup upped their price objective on Crown from $59.00 to $60.00 and gave the stock a buy rating in a report on Friday, October 19th. KeyCorp reaffirmed a hold rating on shares of Crown in a report on Thursday, October 18th. Finally, TheStreet raised Crown from a c+ rating to a b- rating in a report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $60.67.
NYSE CCK traded down $0.98 during trading hours on Friday, reaching $45.79. The company’s stock had a trading volume of 3,661,057 shares, compared to its average volume of 2,270,590. The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 6.82. Crown has a 1 year low of $40.09 and a 1 year high of $62.27. The stock has a market cap of $6.30 billion, a PE ratio of 11.36, a P/E/G ratio of 1.28 and a beta of 1.41.
Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Crown had a return on equity of 59.62% and a net margin of 2.81%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. On average, analysts forecast that Crown will post 5.2 EPS for the current fiscal year.
In related news, Director William S. Urkiel bought 2,500 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were purchased at an average price of $40.25 per share, with a total value of $100,625.00. Following the transaction, the director now owns 46,594 shares in the company, valued at approximately $1,875,408.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Columbia Asset Management bought a new position in shares of Crown during the 3rd quarter valued at approximately $110,000. Tower Research Capital LLC TRC bought a new position in shares of Crown during the 2nd quarter valued at approximately $187,000. Pennsylvania Trust Co bought a new position in shares of Crown during the 3rd quarter valued at approximately $202,000. Oppenheimer Asset Management Inc. bought a new position in shares of Crown during the 2nd quarter valued at approximately $218,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of Crown during the 3rd quarter valued at approximately $240,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
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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