Truist Financial Boosts Crown (NYSE:CCK) Price Target to $103.00

by · The Cerbat Gem

Crown (NYSE:CCK – Get Free Report) had its price objective hoisted by investment analysts at Truist Financial from $95.00 to $103.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 10.17% from the company’s current price.

A number of other brokerages have also recently commented on CCK. Citigroup boosted their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Crown in a research note on Tuesday, September 24th. Bank of America lifted their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price objective 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. Finally, Barclays upped their target price on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.43.

Get Our Latest Stock Report on CCK

Crown Trading Up 0.8 %

NYSE CCK opened at $93.49 on Tuesday. The firm has a market capitalization of $11.29 billion, a PE ratio of 26.94, a P/E/G ratio of 2.19 and a beta of 0.86. The stock’s 50 day moving average is $90.76 and its 200 day moving average is $83.89. Crown has a twelve month low of $69.61 and a twelve month high of $96.74. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK – Get Free Report) last released its earnings results 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 firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm earned $1.68 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Research analysts forecast that Crown will post 6.15 earnings per share for the current fiscal year.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Timothy J. Donahue sold 15,000 shares of Crown 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 $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,506 shares of company stock valued at $3,392,349. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP lifted its position in Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 276 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Crown by 37.5% during the 4th quarter. Wellington Management Group LLP now owns 693,795 shares of the industrial products company’s stock valued at $63,892,000 after purchasing an additional 189,075 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Crown by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Crown by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 33,344 shares of the industrial products company’s stock worth $3,071,000 after buying an additional 1,052 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Crown during the 1st quarter valued at about $32,000. 90.93% of the stock is currently owned by institutional investors.

About Crown

(Get Free Report)

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.

Read More