Brokerages Set Crown Holdings, Inc. (CCK) Target Price at $58.22

Shares of Crown Holdings, Inc. (NYSE:CCK) have been given a consensus rating of “Buy” by the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $58.22.

CCK has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Crown from a “hold” rating to a “sell” rating in a report on Monday, December 31st. TheStreet raised shares of Crown from a “c+” rating to a “b-” rating in a report on Friday, March 1st. KeyCorp reaffirmed a “hold” rating on shares of Crown in a report on Thursday, February 7th. Royal Bank of Canada upped their price target on shares of Crown from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Finally, Citigroup cut their price target on shares of Crown from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, January 7th.

CCK traded up $0.04 during trading on Thursday, reaching $55.68. The company had a trading volume of 2,568 shares, compared to its average volume of 1,455,477. Crown has a 52 week low of $39.05 and a 52 week high of $55.94. The company has a market cap of $7.53 billion, a PE ratio of 10.71, a P/E/G ratio of 1.47 and a beta of 1.66. The company has a quick ratio of 0.61, a current ratio of 1.04 and a debt-to-equity ratio of 6.62.

Crown (NYSE:CCK) last released its earnings results on Wednesday, February 6th. The industrial products company reported $1.00 earnings per share for the quarter, hitting the consensus estimate of $1.00. Crown had a return on equity of 57.46% and a net margin of 3.94%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, research analysts anticipate that Crown will post 5.31 earnings per share for the current fiscal year.

In related news, Director John W. Conway sold 129,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total value of $6,902,790.00. Following the completion of the transaction, the director now owns 1,155,464 shares of the company’s stock, valued at approximately $61,828,878.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David A. Beaver sold 10,000 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $53.24, for a total transaction of $532,400.00. Following the completion of the transaction, the vice president now directly owns 21,417 shares of the company’s stock, valued at approximately $1,140,241.08. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Crown by 48.7% during the 4th quarter. FMR LLC now owns 8,692,722 shares of the industrial products company’s stock valued at $361,357,000 after acquiring an additional 2,846,721 shares during the last quarter. CI Investments Inc. acquired a new position in Crown during the 4th quarter worth about $75,973,000. Norges Bank acquired a new position in Crown during the 4th quarter worth about $69,142,000. TIAA CREF Investment Management LLC lifted its stake in Crown by 47.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 4,900,973 shares of the industrial products company’s stock worth $235,247,000 after acquiring an additional 1,585,959 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Crown by 4,966.1% in the 4th quarter. DNB Asset Management AS now owns 895,679 shares of the industrial products company’s stock valued at $37,233,000 after purchasing an additional 877,999 shares in the last quarter.

About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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Analyst Recommendations for Crown (NYSE:CCK)

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