Crown Holdings, Inc. (NYSE:CCK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $67.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.02% from the stock’s current price.

According to Zacks, “Crown Holdings' estimates have been going up lately. The company expects adjusted diluted earnings per share for the second quarter in the range of $1.05–$1.15 and for 2017  to be in the range of $3.80–$4.00. To meet growing beverage can demand, Crown Holdings intends to build new facilities and is poised to gain from the geographic expansion of its beverage can lines. Additionally, the company will gain from potential strategic acquisitions in geographic areas and product lines. Further, the company has an impressive positive record of earnings surprises in the past few quarters. Its estimates have gone up lately.”

CCK has been the topic of a number of other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of Crown Holdings in a research note on Wednesday, April 12th. Citigroup Inc. reaffirmed a “buy” rating and issued a $63.00 price target (up from $62.00) on shares of Crown Holdings in a research note on Friday, April 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price target on shares of Crown Holdings in a research note on Wednesday, April 12th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of Crown Holdings in a research note on Monday, June 5th. Finally, BidaskClub cut Crown Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Crown Holdings currently has an average rating of “Buy” and a consensus price target of $62.33.

Crown Holdings (NYSE CCK) traded down 0.33% on Monday, hitting $59.61. The stock had a trading volume of 158,028 shares. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 15.85 and a beta of 1.40. Crown Holdings has a 1-year low of $50.82 and a 1-year high of $59.98. The company has a 50-day moving average price of $57.51 and a 200-day moving average price of $54.76.

Crown Holdings (NYSE:CCK) last announced its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Crown Holdings had a return on equity of 75.25% and a net margin of 6.32%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Equities analysts predict that Crown Holdings will post $3.96 earnings per share for the current year.

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In related news, Director Jenne K. Britell sold 4,525 shares of Crown Holdings stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $55.65, for a total transaction of $251,816.25. Following the sale, the director now directly owns 50,038 shares in the company, valued at $2,784,614.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David A. Beaver sold 1,000 shares of Crown Holdings stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $56.05, for a total value of $56,050.00. Following the sale, the vice president now owns 2,398 shares in the company, valued at $134,407.90. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CCK. BlackRock Inc. raised its stake in Crown Holdings by 5,730.2% in the first quarter. BlackRock Inc. now owns 8,156,399 shares of the industrial products company’s stock valued at $431,880,000 after buying an additional 8,016,500 shares in the last quarter. Norges Bank purchased a new stake in Crown Holdings during the fourth quarter valued at $62,138,000. Lazard Asset Management LLC raised its stake in Crown Holdings by 11.9% in the first quarter. Lazard Asset Management LLC now owns 9,406,168 shares of the industrial products company’s stock valued at $498,056,000 after buying an additional 997,113 shares in the last quarter. Boston Partners raised its stake in Crown Holdings by 17.3% in the first quarter. Boston Partners now owns 5,496,044 shares of the industrial products company’s stock valued at $291,016,000 after buying an additional 810,314 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in Crown Holdings by 14.1% in the first quarter. Janus Capital Management LLC now owns 3,988,346 shares of the industrial products company’s stock valued at $211,183,000 after buying an additional 492,530 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

About Crown Holdings

Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.

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