Crown Holdings, Inc. (NYSE:CCK)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc in a note issued to investors on Friday, April 14th. They presently have a $63.00 price objective on the industrial products company’s stock, up from their previous price objective of $62.00. Citigroup Inc’s price target points to a potential upside of 13.17% from the company’s current price.
Several other equities analysts also recently weighed in on CCK. Credit Suisse Group AG set a $60.00 target price on Crown Holdings and gave the company a “hold” rating in a research report on Saturday, February 4th. Vertical Research raised Crown Holdings from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, February 6th. Zacks Investment Research downgraded Crown Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, January 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Crown Holdings in a research report on Wednesday, April 12th. Finally, Barclays PLC lowered their target price on Crown Holdings from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, February 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Crown Holdings currently has a consensus rating of “Buy” and an average price target of $61.89.
Crown Holdings (NYSE:CCK) traded up 0.61% during mid-day trading on Friday, hitting $56.01. 333,834 shares of the stock traded hands. The company has a 50-day moving average of $55.08 and a 200 day moving average of $53.88. Crown Holdings has a 1-year low of $48.04 and a 1-year high of $57.49. The firm has a market capitalization of $7.76 billion, a P/E ratio of 14.90 and a beta of 1.35.
Crown Holdings (NYSE:CCK) last released its earnings results on Wednesday, April 19th. The industrial products company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Crown Holdings had a return on equity of 83.94% and a net margin of 5.99%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, equities research analysts anticipate that Crown Holdings will post $3.95 EPS for the current year.
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In other Crown Holdings news, Director Jenne K. Britell sold 4,525 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $55.65, for a total value of $251,816.25. Following the completion of the sale, the director now directly owns 50,038 shares in the company, valued at $2,784,614.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CCK. Hsbc Holdings PLC raised its position in shares of Crown Holdings by 15.1% in the third quarter. Hsbc Holdings PLC now owns 378,649 shares of the industrial products company’s stock worth $21,617,000 after buying an additional 49,607 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Crown Holdings by 1.7% in the third quarter. BlackRock Fund Advisors now owns 1,404,357 shares of the industrial products company’s stock worth $80,175,000 after buying an additional 23,913 shares in the last quarter. BlackRock Group LTD raised its position in shares of Crown Holdings by 5.0% in the third quarter. BlackRock Group LTD now owns 765,379 shares of the industrial products company’s stock worth $43,695,000 after buying an additional 36,535 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Crown Holdings during the third quarter worth $11,224,000. Finally, BlackRock Investment Management LLC raised its position in shares of Crown Holdings by 5.9% in the third quarter. BlackRock Investment Management LLC now owns 244,315 shares of the industrial products company’s stock worth $13,948,000 after buying an additional 13,603 shares in the last quarter. 90.76% of the stock is currently owned by institutional investors and hedge funds.
Crown Holdings Company Profile
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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