Wells Fargo & Co set a $65.00 price target on Crown (NYSE:CCK) in a research note published on Wednesday, April 17th, TipRanks reports. The firm currently has a buy rating on the industrial products company’s stock.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Crown from a hold rating to a sell rating in a research note on Tuesday, April 16th. Morgan Stanley set a $56.00 price objective on shares of Crown and gave the stock a hold rating in a report on Wednesday, April 17th. Deutsche Bank set a $60.00 price objective on shares of Crown and gave the stock a buy rating in a report on Friday, February 8th. KeyCorp reiterated a hold rating on shares of Crown in a report on Thursday, February 7th. Finally, ValuEngine upgraded shares of Crown from a sell rating to a hold rating in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $60.11.
NYSE:CCK traded up $0.64 during trading hours on Wednesday, hitting $59.69. 10,743 shares of the stock traded hands, compared to its average volume of 1,390,018. The company has a quick ratio of 0.65, a current ratio of 1.20 and a debt-to-equity ratio of 5.87. Crown has a fifty-two week low of $39.05 and a fifty-two week high of $60.58. The company has a market cap of $7.99 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.66.
In other Crown news, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the completion of the sale, the director now directly owns 1,155,464 shares in the company, valued at $61,828,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David A. Beaver sold 10,000 shares of the stock in a transaction dated 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 sale, the vice president now 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. Insiders have sold 268,000 shares of company stock valued at $14,924,930 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Crown by 48.7% in 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 in the last quarter. CI Investments Inc. acquired a new position in Crown in the fourth quarter worth about $75,973,000. Norges Bank acquired a new position in Crown in the fourth quarter worth about $69,142,000. TIAA CREF Investment Management LLC raised its position in Crown by 47.8% in 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 in the last quarter. Finally, Thornburg Investment Management Inc. acquired a new position in Crown in the first quarter worth about $54,449,000.
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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