Loop Capital Boosts Crown (NYSE:CCK) Price Target to $106.00

Crown (NYSE:CCK) had its price objective upped by Loop Capital from $101.00 to $106.00 in a research report released on Wednesday, Benzinga reports. Loop Capital currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also commented on the stock. Wolfe Research assumed coverage on shares of Crown in a research note on Friday, March 1st. They issued an outperform rating and a $102.00 price target for the company. Royal Bank of Canada lowered their price target on shares of Crown from $110.00 to $97.00 and set an outperform rating on the stock in a report on Thursday, February 8th. UBS Group initiated coverage on shares of Crown in a report on Tuesday, January 16th. They set a buy rating and a $112.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Crown from $76.00 to $84.00 and gave the company an equal weight rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Crown from $85.00 to $90.00 and gave the company an overweight rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown has an average rating of Moderate Buy and an average target price of $99.29.

Crown Stock Performance

Shares of CCK stock opened at $83.00 on Wednesday. The company has a 50 day moving average price of $77.94 and a 200-day moving average price of $82.62. Crown has a 52 week low of $69.61 and a 52 week high of $96.35. The firm has a market capitalization of $10.03 billion, a PE ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 24.23%. The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts expect that Crown will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is currently 28.82%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the sale, the chief executive officer now owns 616,178 shares in the company, valued at $52,486,042.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

Large investors have recently bought and sold shares of the business. BluePath Capital Management LLC purchased a new stake in shares of Crown during the third quarter valued at $25,000. Sound Income Strategies LLC purchased a new position in Crown in the 4th quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of Crown in the 1st quarter worth $27,000. Mather Group LLC. acquired a new position in Crown in the 1st quarter valued at about $32,000. Finally, Quest Partners LLC purchased a new stake in Crown during the fourth quarter worth approximately $34,000. Institutional investors own 90.93% of the company’s stock.

About Crown

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.