Crown (NYSE:CCK) Price Target Cut to $76.00

Crown (NYSE:CCK) had its price objective reduced by investment analysts at Wells Fargo & Company from $78.00 to $76.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 1.72% from the stock’s current price.

CCK has been the topic of a number of other research reports. Morgan Stanley initiated coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target on the stock. JPMorgan Chase & Co. upgraded Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Wednesday, February 7th. Truist Financial reiterated a “hold” rating and issued a $88.00 target price (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Royal Bank of Canada decreased their target price on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, UBS Group began coverage on Crown in a research report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.21.

Crown Stock Down 2.7 %

Shares of NYSE CCK opened at $77.33 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. Crown has a 52 week low of $69.61 and a 52 week high of $96.35. The stock has a market capitalization of $9.34 billion, a P/E ratio of 20.57, a PEG ratio of 2.69 and a beta of 0.91. The stock’s fifty day moving average is $76.92 and its 200 day moving average is $83.18.

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

Hedge Funds Weigh In On Crown

A number of hedge funds and other institutional investors have recently made changes to their positions in CCK. Fairfield Bush & CO. acquired a new position in shares of Crown in the first quarter worth approximately $143,000. US Bancorp DE increased its holdings in 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 in the last quarter. Cetera Advisor Networks LLC increased its holdings in 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 Crown in the first quarter worth approximately $392,000. Finally, Great West Life Assurance Co. Can increased its holdings in Crown by 43.6% in the first quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock worth $8,318,000 after purchasing an additional 19,046 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

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.