Crown (NYSE:CCK) Earns Hold Rating from Truist Financial

Crown (NYSE:CCK - Get Free Report)'s stock had its "hold" rating reaffirmed by investment analysts at Truist Financial in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $118.00 target price on the industrial products company's stock, up from their prior target price of $117.00. Truist Financial's price objective points to a potential upside of 14.60% from the company's previous close.

Several other research analysts have also commented on the company. Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Baird R W lowered Crown from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Mizuho raised their price objective on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. UBS Group raised their price objective on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their price objective on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.67.

Crown Trading Down 1.2%

Shares of CCK traded down $1.24 during trading hours on Wednesday, hitting $102.96. The stock had a trading volume of 1,370,236 shares, compared to its average volume of 1,305,531. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.56 and a current ratio of 1.06. The firm has a market cap of $11.98 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.66 and a beta of 0.76. The company's fifty day simple moving average is $102.56 and its 200 day simple moving average is $93.22. Crown has a 12-month low of $75.98 and a 12-month high of $109.48.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.29. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. Equities research analysts forecast that Crown will post 6.96 EPS for the current fiscal year.

Insider Activity

In related news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the transaction, the chief operating officer directly owned 135,014 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the transaction, the vice president owned 4,500 shares of the company's stock, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crown

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Crown by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock worth $279,836,000 after purchasing an additional 167,252 shares in the last quarter. AQR Capital Management LLC grew its stake in Crown by 3.7% in the first quarter. AQR Capital Management LLC now owns 1,768,476 shares of the industrial products company's stock worth $156,988,000 after purchasing an additional 63,395 shares in the last quarter. Invesco Ltd. boosted its stake in Crown by 412.2% in the first 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 during the period. Dimensional Fund Advisors LP boosted its stake in Crown by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company's stock valued at $146,117,000 after acquiring an additional 83,523 shares during the period. Finally, Swedbank AB boosted its stake in Crown by 5.0% in the second quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company's stock valued at $159,673,000 after acquiring an additional 73,959 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.