Credit Suisse Group Reiterates Buy Rating for Crown (CCK)

Crown (NYSE:CCK)‘s stock had its “buy” rating reiterated by investment analysts at Credit Suisse Group in a research note issued on Friday. They presently have a $57.00 target price on the industrial products company’s stock. Credit Suisse Group’s price target suggests a potential upside of 18.75% from the stock’s current price.

Several other research firms also recently weighed in on CCK. ValuEngine raised Crown from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Bank of America raised their price objective on Crown from $51.00 to $57.00 and gave the company a “hold” rating in a report on Monday, September 24th. Citigroup raised their price objective on Crown from $59.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 19th. Finally, KeyCorp reissued a “hold” rating on shares of Crown in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Crown presently has an average rating of “Buy” and an average price target of $60.56.

Shares of NYSE CCK traded down $0.03 during mid-day trading on Friday, hitting $48.00. 1,404,930 shares of the stock traded hands, compared to its average volume of 1,974,375. The company has a quick ratio of 0.68, a current ratio of 1.14 and a debt-to-equity ratio of 6.82. Crown has a twelve month low of $40.09 and a twelve month high of $62.27. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.47.

Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. Crown had a return on equity of 59.62% and a net margin of 2.81%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter last year, the business posted $1.46 EPS. Crown’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, research analysts anticipate that Crown will post 5.2 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC lifted its holdings in Crown by 0.3% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 5,214 shares of the industrial products company’s stock worth $274,000 after buying an additional 14 shares during the period. Creative Planning lifted its holdings in Crown by 1.3% during the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock worth $105,000 after buying an additional 23 shares during the period. Pitcairn Co. lifted its holdings in Crown by 0.3% during the 2nd quarter. Pitcairn Co. now owns 10,083 shares of the industrial products company’s stock worth $511,000 after buying an additional 31 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Crown by 1.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,932 shares of the industrial products company’s stock worth $207,000 after buying an additional 52 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its holdings in Crown by 1.0% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 7,385 shares of the industrial products company’s stock worth $374,000 after buying an additional 73 shares during the period.

Crown Company Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.

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Analyst Recommendations for Crown (NYSE:CCK)

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