Morgan Stanley Forecasts Strong Price Appreciation for Crown (NYSE:CCK) Stock

Crown (NYSE:CCK) had its target price increased by analysts at Morgan Stanley from $114.00 to $118.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential upside of 12.73% from the stock’s current price.

Several other research analysts have also commented on the company. Mizuho boosted their price objective on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. UBS Group boosted their price target on shares of Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen cut shares of Crown from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 14th. Barclays upped their target price on shares of Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada raised their price target on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.64.

Crown Price Performance

CCK stock opened at $104.68 on Wednesday. The firm has a 50 day moving average of $97.66 and a 200-day moving average of $90.14. The firm has a market capitalization of $12.18 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76. Crown has a 12 month low of $70.84 and a 12 month high of $105.38. The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. As a group, sell-side analysts predict that Crown will post 6.96 earnings per share for the current fiscal year.

Insider Activity at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the sale, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. This represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

Several institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC raised its holdings in shares of Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 107 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Crown by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC increased its position in Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the period. Signaturefd LLC raised its holdings in Crown by 161.2% in the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 245 shares in the last quarter. Finally, National Pension Service lifted its position in shares of Crown by 74.4% in the 1st quarter. National Pension Service now owns 443 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.