Crown (NYSE:CCK) Stock Price Expected to Rise, Truist Financial Analyst Says

Crown (NYSE:CCK) had its price target upped by Truist Financial from $103.00 to $104.00 in a report issued on Monday,Benzinga reports. Truist Financial currently has a hold rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company raised their target price on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Barclays upped their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Citigroup lifted their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Mizuho set a $110.00 price target on Crown in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.62.

Crown Stock Performance

Shares of CCK opened at $79.94 on Monday. Crown has a 1 year low of $69.61 and a 1 year high of $98.46. The company’s 50 day simple moving average is $88.54 and its 200 day simple moving average is $87.79. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 98.69, a PEG ratio of 1.95 and a beta of 0.86. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, sell-side analysts predict that Crown will post 6.34 EPS for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

Insider Activity

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

Institutional Investors Weigh In On Crown

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc increased its stake in shares of Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares during the last quarter. Savant Capital LLC increased its position in shares of Crown by 240.8% in the 2nd quarter. Savant Capital LLC now owns 10,797 shares of the industrial products company’s stock worth $803,000 after purchasing an additional 7,629 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Crown in the 2nd quarter valued at about $203,000. Oak Thistle LLC grew its stake in Crown by 118.4% in the second quarter. Oak Thistle LLC now owns 10,498 shares of the industrial products company’s stock worth $781,000 after purchasing an additional 5,692 shares in the last quarter. Finally, Davis Selected Advisers acquired a new position in Crown in the second quarter worth about $638,000. 90.93% of the stock is currently 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.