Bank of America Has Lowered Expectations for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its target price cut by Bank of America from $107.00 to $101.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective would suggest a potential upside of 25.83% from the company’s previous close.

Several other equities analysts have also commented on the company. Citigroup upped their price target on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upped their target price on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company decreased their price objective on shares of Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Loop Capital lifted their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.62.

Crown Trading Up 0.2 %

Shares of CCK stock opened at $80.27 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The company’s 50-day moving average price is $88.54 and its 200-day moving average price is $87.79. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 99.10, a PEG ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities analysts predict that Crown will post 6.34 earnings per share for the current year.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWA Asset Management Group LLC acquired a new stake in shares of Crown during the fourth quarter worth about $1,051,000. Nordea Investment Management AB grew its stake in Crown by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after buying an additional 176,959 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Crown during the fourth quarter worth approximately $348,000. GAMMA Investing LLC lifted its stake in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Crown by 3.6% in the third quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock valued at $87,949,000 after acquiring an additional 32,909 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Company Profile

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.