Crown (CCK) Stock Price Down 5.3%

Crown Holdings, Inc. (NYSE:CCK) shares traded down 5.3% during trading on Thursday . The stock traded as low as $52.17 and last traded at $52.20. 3,361,815 shares changed hands during trading, an increase of 70% from the average session volume of 1,973,441 shares. The stock had previously closed at $55.14.

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of Crown from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Wells Fargo & Co boosted their price objective on shares of Crown from $57.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. KeyCorp restated a “hold” rating on shares of Crown in a research report on Thursday, October 19th. ValuEngine downgraded shares of Crown from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, UBS Group began coverage on shares of Crown in a report on Wednesday, November 29th. They set a “neutral” rating and a $65.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $64.27.

The stock has a market cap of $7,009.19, a price-to-earnings ratio of 21.66, a PEG ratio of 1.71 and a beta of 1.42. The company has a debt-to-equity ratio of 4.60, a current ratio of 1.04 and a quick ratio of 0.57.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.02 billion. Crown had a net margin of 3.71% and a return on equity of 56.47%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. research analysts anticipate that Crown Holdings, Inc. will post 4.36 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in CCK. Toronto Dominion Bank grew its stake in shares of Crown by 12.1% in the second quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 185 shares during the last quarter. American International Group Inc. bought a new stake in shares of Crown in the fourth quarter worth $169,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Crown by 40.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 863 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Crown in the third quarter worth $205,000. Finally, Oakbrook Investments LLC bought a new stake in shares of Crown in the third quarter worth $207,000. Institutional investors own 89.68% of the company’s stock.

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About Crown

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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