Crown (NYSE:CCK) Reaches New 1-Year High - Time to Buy?

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $101.00 and last traded at $100.32, with a volume of 45065 shares traded. The stock had previously closed at $99.94.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CCK shares. UBS Group upped their price target on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Truist Financial decreased their price objective on shares of Crown from $107.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Barclays lifted their price target on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada upped their price objective on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $110.45.

Crown Trading Up 0.7%

The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The business's fifty day moving average is $93.68 and its 200 day moving average is $89.34. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, May 15th. Crown's payout ratio is 22.37%.

Insider Activity at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the transaction, the vice president now owns 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at approximately $13,096,358. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Trading of Crown

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 107 shares during the period. Geneos Wealth Management Inc. increased its position in Crown by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock worth $32,000 after buying an additional 111 shares during the last quarter. Signaturefd LLC increased its position in Crown by 161.2% during the first 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 last quarter. Farther Finance Advisors LLC raised its stake in 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 period. Finally, National Pension Service lifted its position in shares of Crown by 74.4% in the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock valued at $40,000 after buying an additional 189 shares during the last quarter. 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.