Crown (NYSE:CCK) Price Target Raised to $114.00

Crown (NYSE:CCK) had its price objective lifted by UBS Group from $109.00 to $114.00 in a report published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on the stock. Barclays cut their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Royal Bank of Canada upped their target price on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup increased their price target on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Truist Financial cut their price objective on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.45.

Crown Stock Performance

Shares of CCK opened at $96.16 on Tuesday. Crown has a 52 week low of $70.84 and a 52 week high of $98.48. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The stock has a 50 day moving average price of $87.75 and a two-hundred day moving average price of $88.31. The firm has a market capitalization of $11.25 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. Crown had a return on equity of 25.12% and a net margin of 3.59%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. Crown’s revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.08%. Crown’s dividend payout ratio is currently 22.37%.

Hedge Funds Weigh In On Crown

Several hedge funds have recently made changes to their positions in CCK. Tidal Investments LLC boosted its stake in Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 12,058 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Crown by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after buying an additional 176,959 shares in the last quarter. Metropolis Capital Ltd boosted its position in shares of Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after acquiring an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock valued at $67,183,000 after acquiring an additional 8,739 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Crown during the 3rd quarter worth approximately $861,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Company Profile

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.