Crown Holdings, Inc. (NYSE:CCK) Downgraded by Vertical Research
Crown Holdings, Inc. (NYSE:CCK) was downgraded by equities research analysts at Vertical Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other analysts have also recently commented on the stock. KeyCorp reissued a “hold” rating on shares of Crown Holdings in a research note on Thursday. Deutsche Bank AG reissued a “hold” rating and set a $61.00 target price (up previously from $58.00) on shares of Crown Holdings in a research note on Tuesday. Jefferies Group LLC reissued a “buy” rating and set a $70.00 target price (up previously from $63.00) on shares of Crown Holdings in a research note on Friday, July 14th. BidaskClub cut shares of Crown Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $62.00 target price on shares of Crown Holdings in a research note on Wednesday, July 12th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $63.44.
Crown Holdings (CCK) traded down 0.03% on Friday, hitting $59.83. 792,382 shares of the company’s stock traded hands. Crown Holdings has a one year low of $51.57 and a one year high of $60.96. The stock has a market cap of $8.29 billion, a PE ratio of 15.91 and a beta of 1.40. The stock has a 50-day moving average of $58.79 and a 200-day moving average of $55.44.
Crown Holdings (NYSE:CCK) last released its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Crown Holdings had a net margin of 5.81% and a return on equity of 69.86%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.19 earnings per share. On average, equities analysts forecast that Crown Holdings will post $3.98 earnings per share for the current fiscal year.
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In other Crown Holdings news, Director Jenne K. Britell sold 4,525 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $55.65, for a total value of $251,816.25. Following the transaction, the director now directly owns 50,038 shares in the company, valued at approximately $2,784,614.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David A. Beaver sold 1,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $56.05, for a total transaction of $56,050.00. Following the completion of the transaction, 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.
Institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Crown Holdings by 10.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,970 shares of the industrial products company’s stock valued at $105,000 after buying an additional 191 shares during the last quarter. Creative Planning raised its position in Crown Holdings by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares during the last quarter. Cadence Capital Management LLC purchased a new position in Crown Holdings during the first quarter valued at $200,000. Daiwa Securities Group Inc. raised its position in Crown Holdings by 14.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in Crown Holdings during the first quarter valued at $207,000. Institutional investors own 91.85% of the company’s stock.
Crown Holdings Company Profile
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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