Morgan Stanley set a $56.00 price target on Crown (NYSE:CCK) in a research note published on Wednesday, April 17th, TipRanks reports. The firm currently has a hold rating on the industrial products company’s stock.
CCK has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Crown from a hold rating to a sell rating in a report on Wednesday, January 23rd. Citigroup lowered 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. Deutsche Bank raised shares of Crown from a hold rating to a buy rating in a research note on Thursday, January 3rd. KeyCorp reaffirmed a hold rating on shares of Crown in a research note on Thursday, February 7th. Finally, Royal Bank of Canada raised their price objective on shares of Crown from $58.00 to $64.00 and gave the company an outperform rating in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $60.11.
Shares of NYSE CCK traded up $0.64 during mid-day trading on Wednesday, hitting $59.69. 10,743 shares of the stock were exchanged, compared to its average volume of 1,390,018. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.63 and a beta of 1.66. The company has a current ratio of 1.20, a quick ratio of 0.65 and a debt-to-equity ratio of 5.87. Crown has a twelve month low of $39.05 and a twelve month high of $60.58.
In other news, Director John W. Conway sold 129,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $58.06, for a total transaction of $7,489,740.00. Following the transaction, the director now owns 1,156,677 shares in the company, valued at $67,156,666.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David A. Beaver sold 10,000 shares of Crown stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total value of $532,400.00. Following the completion of the transaction, the vice president now owns 21,417 shares in the company, valued at approximately $1,140,241.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,000 shares of company stock valued at $14,924,930. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CCK. FMR LLC lifted its holdings in shares of Crown by 48.7% during the fourth quarter. FMR LLC now owns 8,692,722 shares of the industrial products company’s stock worth $361,357,000 after purchasing an additional 2,846,721 shares during the period. CI Investments Inc. acquired a new stake in shares of Crown during the fourth quarter worth about $75,973,000. Norges Bank acquired a new stake in shares of Crown during the fourth quarter worth about $69,142,000. TIAA CREF Investment Management LLC lifted its holdings in shares of Crown by 47.8% during the third quarter. TIAA CREF Investment Management LLC now owns 4,900,973 shares of the industrial products company’s stock worth $235,247,000 after purchasing an additional 1,585,959 shares during the period. Finally, Thornburg Investment Management Inc. acquired a new stake in shares of Crown during the first quarter worth about $54,449,000.
Crown Company Profile
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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