Robert W. Baird Downgrades Crown (NYSE:CCK) to Neutral

Crown (NYSE:CCK - Get Free Report) was downgraded by research analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a research note issued on Thursday, Marketbeat.com reports. They presently have a $105.00 price objective on the industrial products company's stock. Robert W. Baird's target price would indicate a potential downside of 1.28% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 28th. Truist Financial upped their price target on Crown from $110.00 to $117.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Wells Fargo & Company upped their price target on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Morgan Stanley boosted their price objective on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Bank of America upped their target price on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.64.

Crown Stock Performance

CCK stock traded down $0.01 during trading hours on Thursday, hitting $106.36. 1,044,448 shares of the stock were exchanged, compared to its average volume of 1,237,059. The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50. Crown has a 12 month low of $75.98 and a 12 month high of $109.48. The firm has a market capitalization of $12.38 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.74 and a beta of 0.76. The company has a 50-day simple moving average of $101.89 and a two-hundred day simple moving average of $92.40.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a return on equity of 26.98% and a net margin of 4.62%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. On average, analysts forecast that Crown will post 6.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer owned 135,014 shares in the company, valued at approximately $13,096,358. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the transaction, the vice president owned 4,500 shares of the company's stock, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Crown

Several hedge funds have recently made changes to their positions in CCK. Bank of New York Mellon Corp boosted its stake in shares of Crown by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock worth $279,836,000 after buying an additional 167,252 shares during the period. AQR Capital Management LLC lifted its position in Crown by 3.7% in the first quarter. AQR Capital Management LLC now owns 1,768,476 shares of the industrial products company's stock valued at $156,988,000 after purchasing an additional 63,395 shares during the period. Invesco Ltd. lifted its position in Crown by 412.2% in the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock valued at $153,464,000 after purchasing an additional 1,383,624 shares during the period. Dimensional Fund Advisors LP lifted its position in Crown by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company's stock valued at $146,117,000 after purchasing an additional 83,523 shares during the period. Finally, Swedbank AB lifted its position in Crown by 5.0% in the second quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company's stock valued at $159,673,000 after purchasing an additional 73,959 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.