Royal Bank of Canada Forecasts Strong Price Appreciation for Crown (NYSE:CCK) Stock

Crown (NYSE:CCK) had its target price lifted by stock analysts at Royal Bank of Canada from $115.00 to $120.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 23.74% from the company’s current price.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup increased their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Bank of America dropped their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, UBS Group lifted their price objective on Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Crown Price Performance

NYSE:CCK opened at $96.98 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a market cap of $11.34 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. Crown has a 12 month low of $70.84 and a 12 month high of $98.48. The company’s 50-day moving average price is $87.93 and its two-hundred day moving average price is $88.33.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.45. The firm 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 25.12% and a net margin of 3.59%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. On average, equities analysts anticipate that Crown will post 6.96 EPS for the current fiscal year.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CCK. Larson Financial Group LLC raised its holdings in shares of Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 107 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the period. Signaturefd LLC lifted its holdings in shares of Crown by 161.2% in the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after buying an additional 261 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Company Profile

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.