Crown (NYSE:CCK) Given New $117.00 Price Target at Truist Financial

Crown (NYSE:CCK - Get Free Report) had its price objective hoisted by Truist Financial from $110.00 to $117.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Truist Financial's price objective would indicate a potential upside of 9.15% from the stock's current price.

A number of other analysts have also commented on CCK. Barclays upped their price objective on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Citigroup upped their price objective on shares of Crown from $119.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Morgan Stanley increased their price target on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Mizuho increased their price target on shares of Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 28th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $117.55.

Crown Price Performance

CCK stock traded down $0.25 during trading hours on Friday, hitting $107.20. 790,270 shares of the stock traded hands, compared to its average volume of 1,237,736. The stock has a 50-day simple moving average of $101.16 and a 200 day simple moving average of $91.76. Crown has a one year low of $75.33 and a one year high of $109.48. The company has a market cap of $12.48 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.75 and a beta of 0.76. 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 (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. Crown had a return on equity of 26.98% and a net margin of 4.62%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the company earned $1.02 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts forecast that Crown will post 6.96 earnings per share for the current year.

Insider Buying and Selling

In other 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 transaction, the chief operating officer owned 135,014 shares of the company's stock, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president directly owned 4,500 shares in the company, valued at approximately $447,345. This represents 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

A number of institutional investors have recently modified their holdings of CCK. Larson Financial Group LLC increased its position in Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after acquiring an additional 107 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of 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 buying an additional 111 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after buying an additional 256 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Crown by 161.2% in the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock valued at $35,000 after buying an additional 245 shares during the last quarter. Finally, National Pension Service raised its holdings in Crown by 74.4% during the 1st quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after purchasing an additional 189 shares during the last quarter. 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.