Crown Holdings, Inc. (CCK) Stock Rating Reaffirmed by Barclays PLC
Crown Holdings, Inc. (NYSE:CCK)‘s stock had its “overweight” rating restated by analysts at Barclays PLC in a research note issued to investors on Monday. They presently have a $69.00 target price on the industrial products company’s stock, up from their prior target price of $63.00. Barclays PLC’s target price indicates a potential upside of 15.12% from the stock’s current price.
Several other brokerages have also recently weighed in on CCK. Deutsche Bank AG restated a “hold” rating and issued a $61.00 price target (up previously from $58.00) on shares of Crown Holdings in a research report on Tuesday, July 18th. KeyCorp restated a “hold” rating on shares of Crown Holdings in a research report on Thursday. Zacks Investment Research upgraded shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Monday. Vertical Research cut shares of Crown Holdings from a “buy” rating to a “hold” rating and boosted their price target for the stock from $60.00 to $64.00 in a research report on Friday. Finally, BidaskClub cut shares of Crown Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Crown Holdings has a consensus rating of “Buy” and a consensus price target of $64.56.
Crown Holdings (NYSE CCK) traded up 0.18% during mid-day trading on Monday, reaching $59.94. 967,045 shares of the company were exchanged. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 17.17 and a beta of 1.40. Crown Holdings has a one year low of $51.57 and a one year high of $60.96. 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 quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The firm had revenue of $2.16 billion for 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 revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. On average, equities analysts expect that Crown Holdings will post $4.02 earnings per share for the current fiscal year.
In other Crown Holdings news, VP David A. Beaver sold 1,000 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $56.05, for a total transaction of $56,050.00. Following the transaction, the vice president now owns 2,398 shares in the company, valued at $134,407.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DnB Asset Management AS boosted its position in Crown Holdings by 531.8% in the first quarter. DnB Asset Management AS now owns 113,600 shares of the industrial products company’s stock worth $6,015,000 after buying an additional 95,620 shares during the period. Reliance Trust Co. of Delaware boosted its position in Crown Holdings by 19.7% in the first quarter. Reliance Trust Co. of Delaware now owns 13,540 shares of the industrial products company’s stock worth $717,000 after buying an additional 2,232 shares during the period. BKD Wealth Advisors LLC purchased a new position in Crown Holdings during the first quarter worth $280,000. Stillwater Capital Advisors LLC boosted its position in Crown Holdings by 10.2% in the first quarter. Stillwater Capital Advisors LLC now owns 5,958 shares of the industrial products company’s stock worth $315,000 after buying an additional 551 shares during the period. Finally, Bank of Montreal Can boosted its position in Crown Holdings by 51.6% in the first quarter. Bank of Montreal Can now owns 142,413 shares of the industrial products company’s stock worth $7,541,000 after buying an additional 48,451 shares during the period. Institutional investors and hedge funds own 91.86% 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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