Crown (NYSE:CCK) Given New $118.00 Price Target at Morgan Stanley

Crown (NYSE:CCK - Get Free Report) had its price objective increased by Morgan Stanley from $114.00 to $118.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. Morgan Stanley's target price points to a potential upside of 13.40% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. UBS Group upped their price target on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho increased their target price on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Royal Bank Of Canada raised their target price on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. 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. Finally, Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $111.64.

Crown Price Performance

Shares of NYSE CCK traded down $0.33 during trading on Wednesday, hitting $104.06. The company had a trading volume of 392,652 shares, compared to its average volume of 1,237,893. Crown has a 52 week low of $70.84 and a 52 week high of $105.05. The business's 50-day moving average is $96.87 and its 200 day moving average is $89.93. The company has a market cap of $12.11 billion, a P/E ratio of 22.38, a PEG ratio of 1.80 and a beta of 0.76. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87.

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

Insider Transactions at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president now directly owns 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Crown

Several institutional investors have recently modified their holdings of CCK. Larson Financial Group LLC raised its stake in shares of Crown by 47.6% in the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after buying an additional 107 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 111 shares during the period. Nisa Investment Advisors LLC raised its position in Crown by 4.2% in the first quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock worth $256,000 after purchasing an additional 115 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Crown by 4.6% during the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company's stock worth $237,000 after purchasing an additional 125 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in Crown by 4.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,810 shares of the industrial products company's stock valued at $251,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

About Crown

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.

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