Bank of America Forecasts Strong Price Appreciation for Crown (NYSE:CCK) Stock

Crown (NYSE:CCK - Get Free Report) had its price objective raised by stock analysts at Bank of America from $110.00 to $117.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Bank of America's price target indicates a potential upside of 8.82% from the stock's previous close.

A number of other analysts also recently weighed in on CCK. Barclays increased their price target on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. UBS Group increased their price target on shares of Crown from $114.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday. Royal Bank Of Canada raised their price objective on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 28th. Finally, Citigroup raised their price objective on shares of Crown from $119.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.73.

Crown Stock Down 0.4%

Crown stock traded down $0.44 during trading hours on Wednesday, hitting $107.52. The company had a trading volume of 554,835 shares, compared to its average volume of 1,237,818. The firm has a market capitalization of $12.51 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56. The firm's fifty day moving average is $100.73 and its 200-day moving average is $91.43. Crown has a fifty-two week low of $71.62 and a fifty-two week high of $109.48.

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

Insider Transactions at Crown

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

Institutional Investors Weigh In On Crown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCK. Larson Financial Group LLC increased its position in 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 acquiring an additional 107 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Crown by 45.3% in the 1st 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 in the last quarter. Farther Finance Advisors LLC grew its position in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after buying an additional 256 shares during the period. Signaturefd LLC grew its position in shares of Crown by 161.2% during the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock worth $35,000 after buying an additional 245 shares during the period. Finally, National Pension Service grew its position in shares of 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 buying an additional 189 shares during the period. 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.