Crown (NYSE:CCK) Price Target Lowered to $97.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered Crown's price target from $113.00 to $97.00, maintaining an "equal weight" rating, indicating a potential upside of 7.24% from current levels.
• Recent evaluations in the analyst community show a mix of ratings, with the consensus rating now classified as a "Moderate Buy" and a consensus price target of $117.17.
• Crown's quarterly earnings outperformed expectations, reporting $2.15 EPS against the consensus estimate of $1.86, while revenue reached $3.15 billion, exceeding estimates of $3.10 billion.

Crown (NYSE:CCK - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $113.00 to $97.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price indicates a potential upside of 7.24% from the company's current price.

Several other research analysts have also commented on CCK. Wall Street Zen lowered shares of Crown from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Robert W. Baird lifted their target price on Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Crown in a research report on Wednesday, October 8th. Truist Financial upgraded Crown from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a report on Friday, September 5th. Finally, UBS Group decreased their target price on Crown from $130.00 to $117.00 and set a "buy" rating on the stock in a report on Monday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $117.17.

Crown Price Performance

Shares of CCK stock traded down $0.30 during mid-day trading on Wednesday, hitting $90.45. 228,659 shares of the stock traded hands, compared to its average volume of 1,268,065. The company's 50-day simple moving average is $96.85 and its 200-day simple moving average is $97.23. Crown has a twelve month low of $75.98 and a twelve month high of $109.48. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.29. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. As a group, equities research analysts expect that Crown will post 6.96 earnings per share for the current year.

Insider Transactions at Crown

In related news, CAO Gerard H. Gifford sold 8,222 shares of the 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 approximately $12,617,674.05. This represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 13,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $100.52, for a total value of $1,306,760.00. Following the sale, the chief executive officer directly owned 449,056 shares of the company's stock, valued at approximately $45,139,109.12. The trade was a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Crown

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Crown by 110.3% during the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock worth $107,000 after acquiring an additional 630 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Crown by 8.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 8,855 shares of the industrial products company's stock worth $790,000 after acquiring an additional 665 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Crown by 22.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,501 shares of the industrial products company's stock worth $1,027,000 after buying an additional 2,087 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Crown by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock valued at $1,222,000 after acquiring an additional 215 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Crown in the 1st quarter valued at $820,000. Institutional investors and hedge funds 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.

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