Crown (NYSE:CCK) Price Target Lowered to $124.00 at Citigroup

Key Points

• Citigroup has lowered Crown Holdings' price target from $135.00 to $124.00, indicating a potential upside of 27.66%.
• Despite the price target reduction, Crown maintains a "buy" rating from Citigroup as well as from other analysts, with ten analysts rating it as a Buy.
• Crown recently reported earnings of $2.15 per share, surpassing estimates and showing a revenue increase of 3.6% year-over-year.

Crown (NYSE:CCK - Get Free Report) had its target price reduced by equities research analysts at Citigroup from $135.00 to $124.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 27.66% from the stock's current price.

A number of other research firms have also recently commented on CCK. Robert W. Baird raised their target price on shares of Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their price objective on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Wall Street Zen cut Crown from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Loop Capital lifted their price target on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial raised shares of Crown from a "hold" rating to a "buy" rating and set a $118.00 price objective on the stock in a report on Friday, September 5th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $120.25.

Crown Price Performance

CCK opened at $97.14 on Monday. Crown has a 12-month low of $75.98 and a 12-month high of $109.48. The stock has a market capitalization of $11.30 billion, a P/E ratio of 20.41, a PEG ratio of 1.49 and a beta of 0.73. The stock has a 50-day moving average price of $98.71 and a 200-day moving average price of $96.90. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.81 earnings per share. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Equities analysts predict that Crown will post 6.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 37,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total value of $3,720,720.00. Following the sale, the chief executive officer directly owned 462,056 shares in the company, valued at $46,464,351.36. The trade was a 7.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the sale, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at $12,617,674.05. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,222 shares of company stock valued at $5,873,770. Company insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Crown in the 2nd quarter worth approximately $184,046,000. Invesco Ltd. boosted its position in shares of Crown by 412.2% in the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock worth $153,464,000 after buying an additional 1,383,624 shares during the period. Swedbank AB increased its holdings in shares of Crown by 114.7% in the 1st quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company's stock valued at $131,798,000 after purchasing an additional 788,818 shares during the period. AQR Capital Management LLC raised its holdings in shares of Crown by 43.3% during the second quarter. AQR Capital Management LLC now owns 2,533,612 shares of the industrial products company's stock worth $260,835,000 after acquiring an additional 765,136 shares in the last quarter. Finally, Albar Capital Partners LLP bought a new position in Crown during the second quarter valued at approximately $54,736,000. 90.93% of the stock is owned by institutional investors and hedge funds.

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.

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