Crown (CCK) Cut to Sell at Zacks Investment Research

Crown (NYSE:CCK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

According to Zacks, “Crown Holdings’ performance will be impacted by disruptions from hurricanes, lower consumer spending and ongoing conflicts in the Middle East. Its aerosol can business will face supply chain issues due to lack of industrial gases following the hurricanes. Further, the company's aerosol can sales unit volumes will be hurt by lower consumer spending. In the Middle East, volumes also remain under pressure due to the ongoing conflicts in the region. Moreover, additional restructuring charges and rising competition will hurt Crown Holdings’ results. “

CCK has been the topic of a number of other reports. Barclays increased their target price on shares of Crown from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Wells Fargo & Co increased their target price on shares of Crown from $57.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. UBS Group initiated coverage on shares of Crown in a research report on Wednesday, November 29th. They issued a “neutral” rating and a $65.00 target price on the stock. Vertical Research raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Crown in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.27.

Crown (CCK) traded down $0.24 during midday trading on Monday, hitting $58.01. 505,361 shares of the company were exchanged, compared to its average volume of 2,155,689. The company has a debt-to-equity ratio of 4.60, a current ratio of 1.04 and a quick ratio of 0.57. The stock has a market cap of $7,800.00, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.42. Crown has a 1 year low of $51.76 and a 1 year high of $62.27.

Large investors have recently modified their holdings of the stock. Toronto Dominion Bank boosted its stake in Crown by 12.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 185 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Crown by 40.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 863 shares during the period. First Republic Investment Management Inc. acquired a new stake in shares of Crown in the 3rd quarter worth $205,000. Oakbrook Investments LLC acquired a new stake in shares of Crown in the 3rd quarter worth $207,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Crown in the 3rd quarter worth $223,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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Crown 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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