Crown (CCK) Sets New 1-Year High at $60.62

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Crown Holdings, Inc. (NYSE:CCK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.62 and last traded at $60.43, with a volume of 7619 shares. The stock had previously closed at $59.62.

CCK has been the subject of a number of research reports. Morgan Stanley initiated coverage on Crown in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $49.00 price objective for the company. Zacks Investment Research upgraded Crown from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. ValuEngine upgraded Crown from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. KeyCorp restated a “hold” rating on shares of Crown in a report on Thursday, February 7th. Finally, Deutsche Bank set a $60.00 price target on Crown and gave the company a “buy” rating in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $60.11.

The company has a debt-to-equity ratio of 5.87, a current ratio of 1.20 and a quick ratio of 0.65. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.66.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share for the quarter, meeting the consensus estimate of $1.05. Crown had a return on equity of 54.33% and a net margin of 3.86%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company earned $0.94 earnings per share. The company’s revenue was up 25.4% on a year-over-year basis. As a group, equities analysts forecast that Crown Holdings, Inc. will post 5.29 EPS for the current fiscal year.

In related news, Director John W. Conway sold 129,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $58.06, for a total transaction of $7,489,740.00. Following the sale, the director now directly owns 1,156,677 shares of the company’s stock, valued at $67,156,666.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP David A. Beaver sold 10,000 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $53.24, for a total value of $532,400.00. Following the sale, the vice president now directly owns 21,417 shares in the company, valued at $1,140,241.08. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in Crown by 2.4% in the fourth quarter. Prudential Financial Inc. now owns 8,385 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 200 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Crown by 0.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 36,251 shares of the industrial products company’s stock worth $1,437,000 after purchasing an additional 235 shares during the last quarter. Utah Retirement Systems boosted its position in Crown by 1.2% in the first quarter. Utah Retirement Systems now owns 24,392 shares of the industrial products company’s stock worth $1,331,000 after purchasing an additional 293 shares during the last quarter. Private Capital Group LLC boosted its position in Crown by 43.4% in the fourth quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its position in Crown by 16.7% in the first quarter. Atlas Capital Advisors LLC now owns 2,100 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 300 shares during the last quarter.

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About Crown (NYSE:CCK)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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