Citigroup Raises Crown (NYSE:CCK) Price Target to $77.00

Crown (NYSE:CCK) had its price objective increased by Citigroup from $70.00 to $77.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also commented on CCK. Wells Fargo & Co set a $9.00 target price on Bausch Health Companies and gave the company a sell rating in a research note on Friday, May 17th. Deutsche Bank upped their target price on Keysight Technologies from $100.00 to $120.00 and gave the company a buy rating in a research note on Monday, April 22nd. Zacks Investment Research lowered Great Portland Estates from a hold rating to a sell rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley set a $60.00 target price on Berry Global Group and gave the company a hold rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $63.22.

Shares of NYSE CCK opened at $60.77 on Thursday. The company has a fifty day moving average price of $59.59. The company has a quick ratio of 0.65, a current ratio of 1.20 and a debt-to-equity ratio of 5.87. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.64 and a beta of 1.59. Crown has a one year low of $39.05 and a one year high of $63.39.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, April 17th. The industrial products company reported $1.05 EPS for the quarter, meeting analysts’ consensus estimates of $1.05. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.76 billion. Crown had a return on equity of 54.33% and a net margin of 3.86%. Crown’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. On average, equities analysts anticipate that Crown will post 5.29 EPS for the current year.

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $60.79, for a total value of $607,900.00. Following the sale, the chief operating officer now directly owns 152,292 shares in the company, valued at $9,257,830.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $58.06, for a total value of $7,489,740.00. Following the completion of the sale, the director now owns 1,156,677 shares in the company, valued at $67,156,666.62. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in CCK. Massey Quick Simon & CO. LLC bought a new stake in shares of Crown during the first quarter worth $26,000. First Personal Financial Services grew its holdings in shares of Crown by 178.7% during the first quarter. First Personal Financial Services now owns 577 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 370 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Crown during the first quarter worth $32,000. First Hawaiian Bank grew its holdings in shares of Crown by 61.5% during the first quarter. First Hawaiian Bank now owns 1,641 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 625 shares during the last quarter. Finally, Investors Research Corp bought a new stake in shares of Crown during the first quarter worth $112,000. Hedge funds and other institutional investors own 98.94% of the company’s stock.

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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