Crown (NYSE:CCK) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Crown Holdings from “buy” to “hold,” though the broader analyst consensus remains “Moderate Buy,” with 12 buy ratings and five hold ratings.
• Crown’s shares opened at $119.30, near their 12-month high of $122.91, while the average analyst price target stood at $128.47.
• The company exceeded quarterly expectations, reporting adjusted earnings of $2.39 per share versus $2.26 expected and revenue of $3.71 billion, up 15.9% year over year. Institutional investors own approximately 90.93% of the stock.

Crown (NYSE:CCK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Bank of America lifted their target price on shares of Crown from $129.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings raised Crown from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Citigroup upped their price target on Crown from $137.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Mizuho raised their price target on Crown from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 21st. Finally, UBS Group lifted their price objective on Crown from $116.00 to $118.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and an average target price of $128.47.

Crown Trading Up 0.9%

NYSE CCK opened at $119.30 on Friday. The firm's 50-day moving average is $112.79 and its two-hundred day moving average is $108.45. Crown has a 12 month low of $91.31 and a 12 month high of $122.91. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.14 and a quick ratio of 0.71. The stock has a market capitalization of $12.89 billion, a P/E ratio of 13.94, a PEG ratio of 1.48 and a beta of 0.56.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.13. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.45 billion. Crown had a net margin of 5.78% and a return on equity of 27.41%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the business earned $2.24 earnings per share. On average, sell-side analysts anticipate that Crown will post 8.41 earnings per share for the current year.

Institutional Investors Weigh In On Crown

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Crown during the 2nd quarter worth about $112,578,000. Nykredit A S purchased a new position in shares of Crown in the 2nd quarter valued at about $99,537,000. SEB Asset Management AB acquired a new stake in shares of Crown during the 1st quarter worth about $54,291,000. Assenagon Asset Management S.A. acquired a new stake in shares of Crown during the 2nd quarter worth about $60,275,000. Finally, Quantinno Capital Management LP raised its position in shares of Crown by 19.3% during the 1st quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company's stock worth $115,979,000 after acquiring an additional 186,849 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Company Profile

Crown Holdings, Inc NYSE: CCK is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown's products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.

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