Crown (NYSE:CCK) Price Target Raised to $99.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its price target for Crown Holdings (NYSE:CCK) from $97.00 to $99.00, while maintaining an "equal weight" rating, indicating a potential downside of 0.52% from the current price.
• Other analysts have mixed ratings: JPMorgan increased their target to $112.00 with an "overweight" rating, while Wall Street Zen downgraded its rating to "hold."
• Crown Holdings reported $2.24 earnings per share for the last quarter, exceeding the consensus estimate of $1.98, and had quarterly revenue of $3.20 billion, indicating a year-over-year growth of 4.2%.

Crown (NYSE:CCK - Get Free Report) had its price objective upped by Wells Fargo & Company from $97.00 to $99.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price would suggest a potential downside of 0.52% from the stock's current price.

A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Crown from a "buy" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price target on Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Bank of America boosted their price target on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Crown in a research report on Wednesday, October 8th. Finally, Citigroup cut their price objective on Crown from $135.00 to $124.00 and set a "buy" rating for the company in a research report on Monday, September 29th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $117.69.

Crown Price Performance

Shares of NYSE CCK traded down $0.09 during mid-day trading on Wednesday, reaching $99.52. The company had a trading volume of 158,943 shares, compared to its average volume of 1,281,901. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a market cap of $11.58 billion, a PE ratio of 12.30, a P/E/G ratio of 1.35 and a beta of 0.73. The company has a 50-day moving average price of $96.19 and a two-hundred day moving average price of $97.43. Crown has a 1-year low of $75.98 and a 1-year high of $109.48.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Monday, October 20th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.26. Crown had a return on equity of 27.35% and a net margin of 7.79%.The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the firm posted $1.99 EPS. The company's quarterly revenue was up 4.2% on a year-over-year basis. Crown has set its Q4 2025 guidance at 1.650-1.75 EPS. FY 2025 guidance at 7.700-7.80 EPS. On average, equities analysts anticipate that Crown will post 6.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 37,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer owned 462,056 shares of the company's stock, valued at $46,464,351.36. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares in the company, valued at $12,617,674.05. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock worth $5,873,770 over the last quarter. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Crown

Several hedge funds have recently modified their holdings of CCK. Norges Bank bought a new position in shares of Crown in the 2nd quarter valued at about $184,046,000. Invesco Ltd. grew its holdings in shares of Crown by 412.2% in the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock valued at $153,464,000 after acquiring an additional 1,383,624 shares in the last quarter. Swedbank AB grew its holdings in Crown by 60.8% during the third quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company's stock worth $240,854,000 after purchasing an additional 943,045 shares during the period. AQR Capital Management LLC grew its holdings in 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 purchasing an additional 765,136 shares during the period. Finally, Albar Capital Partners LLP acquired a new stake in Crown during the second quarter worth approximately $54,736,000. 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.

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