Citigroup Raises Crown (NYSE:CCK) Price Target to $110.00

Crown (NYSE:CCK) had its price target lifted by Citigroup from $100.00 to $110.00 in a report published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on CCK. Wells Fargo & Company boosted their target price on shares of Crown from $85.00 to $88.00 and gave the company an equal weight rating in a research note on Wednesday, July 24th. Truist Financial boosted their price objective on shares of Crown from $88.00 to $95.00 and gave the company a hold rating in a research report on Wednesday, July 24th. Royal Bank of Canada reaffirmed an outperform rating and set a $105.00 target price on shares of Crown in a research report on Tuesday, September 24th. Bank of America boosted their price target on Crown from $98.00 to $102.00 and gave the company a buy rating in a report on Wednesday, July 24th. Finally, Loop Capital raised their price objective on Crown from $106.00 to $120.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown has a consensus rating of Moderate Buy and an average price target of $101.86.

Crown Trading Up 0.6 %

Shares of CCK opened at $93.76 on Wednesday. The company’s fifty day simple moving average is $90.32 and its 200-day simple moving average is $83.30. The company has a market cap of $11.32 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.26 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. Crown has a twelve month low of $69.61 and a twelve month high of $96.74.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $1.68 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts expect that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. Crown’s dividend payout ratio is presently 28.82%.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,006 shares of company stock worth $2,694,849. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new position in shares of Crown in the first quarter worth $27,000. Mather Group LLC. purchased a new position in Crown in the 1st quarter worth $32,000. Quarry LP lifted its position in Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Crown in the first quarter valued at about $41,000. Finally, Trivant Custom Portfolio Group LLC purchased a new position in shares of Crown in the first quarter worth about $43,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.