ValuEngine Lowers Crown (CCK) to Strong Sell

ValuEngine cut shares of Crown (NYSE:CCK) from a sell rating to a strong sell rating in a report published on Thursday.

A number of other research analysts have also weighed in on the stock. KeyCorp reissued a hold rating on shares of Crown in a research note on Friday, April 20th. Credit Suisse Group decreased their target price on shares of Crown from $64.00 to $58.00 and set a neutral rating on the stock in a research note on Wednesday, April 18th. Zacks Investment Research raised shares of Crown from a hold rating to a buy rating and set a $56.00 target price on the stock in a research note on Wednesday, April 11th. JPMorgan Chase raised their target price on shares of Crown from $68.00 to $69.00 and gave the stock a buy rating in a research note on Wednesday, April 11th. Finally, Citigroup decreased their target price on shares of Crown from $69.00 to $62.00 and set a buy rating on the stock in a research note on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $63.67.

Shares of Crown stock opened at $44.23 on Thursday. The stock has a market capitalization of $5.92 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.15 and a beta of 1.43. Crown has a twelve month low of $42.63 and a twelve month high of $62.27. The company has a debt-to-equity ratio of 6.99, a quick ratio of 1.34 and a current ratio of 1.84.

Crown (NYSE:CCK) last released its earnings results on Wednesday, April 18th. The industrial products company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.14. Crown had a net margin of 3.40% and a return on equity of 56.15%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the company posted $0.72 EPS. The business’s revenue was up 15.6% on a year-over-year basis. sell-side analysts forecast that Crown will post 5.48 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in CCK. Dimensional Fund Advisors LP increased its holdings in Crown by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 458,924 shares of the industrial products company’s stock valued at $27,409,000 after purchasing an additional 4,647 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Crown by 17.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,500 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 1,900 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Crown by 3.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 473,316 shares of the industrial products company’s stock valued at $26,625,000 after purchasing an additional 14,957 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Crown in the 4th quarter valued at approximately $583,000. Finally, State of Alaska Department of Revenue acquired a new stake in Crown in the 4th quarter valued at approximately $505,000. 86.53% of the stock is currently owned by hedge funds and other institutional investors.

About Crown

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Crown (NYSE:CCK)

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