Crown (NYSE:CCK) Upgraded to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of Crown (NYSE:CCK) from a neutral rating to an outperform rating in a research note released on Tuesday morning, MarketBeat.com reports. They currently have $90.00 target price on the industrial products company’s stock, up from their previous target price of $85.00.

CCK has been the subject of several other research reports. Royal Bank of Canada cut their target price on Crown from $110.00 to $97.00 and set an outperform rating for the company in a research note on Thursday, February 8th. UBS Group started coverage on shares of Crown in a research note on Tuesday, January 16th. They issued a buy rating and a $112.00 target price on the stock. Mizuho dropped their price objective on Crown from $105.00 to $96.00 and set a buy rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company cut their target price on shares of Crown from $78.00 to $76.00 and set an equal weight rating on the stock in a research note on Thursday, April 11th. Finally, Truist Financial reaffirmed a hold rating and issued a $88.00 price target (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $99.21.

Crown Stock Up 1.0 %

Crown stock opened at $76.97 on Tuesday. Crown has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $9.30 billion, a PE ratio of 20.47, a PEG ratio of 2.61 and a beta of 0.91. The firm’s fifty day moving average is $76.68 and its 200 day moving average is $82.97.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Crown will post 5.91 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.30%. This is a positive change from Crown’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s payout ratio is 26.60%.

Institutional Trading of Crown

Several hedge funds have recently bought and sold shares of CCK. Fairfield Bush & CO. purchased a new stake in Crown in the 1st quarter worth approximately $143,000. US Bancorp DE boosted its position in shares of Crown by 9.6% in the first quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 308 shares during the period. Cetera Advisor Networks LLC increased its stake in shares of Crown by 30.3% in the first quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 666 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Crown during the 1st quarter valued at $392,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Crown by 43.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock valued at $8,318,000 after buying an additional 19,046 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.