Crown (NYSE:CCK) Stock Rating Upgraded by Wall Street Zen

Crown (NYSE:CCK - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

A number of other brokerages also recently issued reports on CCK. Truist Financial reduced their price target on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. UBS Group upped their price target on Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley upped their price target on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho upped their price target on Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Finally, Barclays upped their price target on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $111.64.

Crown Stock Performance

Shares of CCK stock opened at $103.43 on Friday. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.80 and a beta of 0.76. The company's 50 day moving average is $98.02 and its 200 day moving average is $90.25. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. Crown has a 52-week low of $70.84 and a 52-week high of $105.38.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. Crown's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. On average, sell-side analysts anticipate that Crown will post 6.96 EPS for the current fiscal year.

Insider Activity

In other news, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction 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 sale, the vice president now directly owns 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Crown

Several hedge funds have recently added to or reduced their stakes in the business. Swedbank AB boosted its holdings in Crown by 114.7% in the first quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company's stock valued at $131,798,000 after purchasing an additional 788,818 shares during the last quarter. Howe & Rusling Inc. boosted its holdings in Crown by 0.7% in the first quarter. Howe & Rusling Inc. now owns 97,646 shares of the industrial products company's stock valued at $8,716,000 after purchasing an additional 692 shares during the last quarter. Inspire Investing LLC purchased a new stake in Crown in the first quarter valued at $762,000. Strs Ohio purchased a new stake in Crown in the first quarter valued at $10,540,000. Finally, Geneos Wealth Management Inc. boosted its holdings in 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 purchasing an additional 111 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.