Analysts Set Crown Holdings, Inc. (CCK) PT at $60.63

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Shares of Crown Holdings, Inc. (NYSE:CCK) have received an average rating of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.63.

Several brokerages have issued reports on CCK. Citigroup decreased their target price on shares of Crown from $60.00 to $56.00 and set a “buy” rating for the company in a report on Friday, July 20th. UBS Group decreased their target price on shares of Crown from $59.00 to $50.00 and set a “$44.54” rating for the company in a report on Thursday, July 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 target price on shares of Crown in a report on Friday, July 20th. Zacks Investment Research raised shares of Crown from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Finally, ValuEngine cut shares of Crown from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th.

In other news, Director William S. Urkiel bought 2,500 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was acquired at an average cost of $40.25 per share, with a total value of $100,625.00. Following the completion of the acquisition, the director now owns 46,594 shares of the company’s stock, valued at $1,875,408.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its stake in shares of Crown by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 530,168 shares of the industrial products company’s stock worth $23,731,000 after acquiring an additional 34,110 shares during the period. Gideon Capital Advisors Inc. bought a new stake in shares of Crown in the second quarter worth approximately $280,000. Private Management Group Inc. grew its stake in shares of Crown by 150.3% in the second quarter. Private Management Group Inc. now owns 676,790 shares of the industrial products company’s stock worth $30,293,000 after acquiring an additional 406,434 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Crown in the second quarter worth approximately $187,000. Finally, Lonestar Capital Management LLC bought a new stake in shares of Crown in the second quarter worth approximately $8,952,000. Hedge funds and other institutional investors own 94.89% of the company’s stock.

Shares of NYSE CCK opened at $42.29 on Monday. Crown has a 1 year low of $40.09 and a 1 year high of $62.27. The stock has a market cap of $5.75 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.17 and a beta of 1.38. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.14 and a quick ratio of 0.69.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. Crown had a net margin of 2.81% and a return on equity of 59.62%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period last year, the company posted $1.46 EPS. Crown’s revenue was up 28.6% on a year-over-year basis. As a group, research analysts forecast that Crown will post 5.2 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Crown (NYSE:CCK)

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