Crown (NYSE:CCK) Upgraded to Outperform at Robert W. Baird

Crown (NYSE:CCK - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $90.00 price target on the industrial products company's stock, up from their prior price target of $85.00. Robert W. Baird's price objective points to a potential upside of 16.93% from the stock's previous close.

Several other equities analysts have also commented on CCK. Wells Fargo & Company lowered their price objective on Crown from $78.00 to $76.00 and set an "equal weight" rating for the company in a research report on Thursday, April 11th. Royal Bank of Canada decreased their target price on Crown from $110.00 to $97.00 and set an "outperform" rating for the company in a research report on Thursday, February 8th. Morgan Stanley began coverage on shares of Crown in a research report on Monday, March 18th. They set an "equal weight" rating and a $87.00 price target for the company. Truist Financial reissued a "hold" rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Finally, Wolfe Research began coverage on Crown in a research note on Friday, March 1st. They issued an "outperform" rating and a $102.00 price target for the company. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.21.

Crown Stock Up 1.0 %

Shares of Crown stock traded up $0.77 during trading on Tuesday, reaching $76.97. 998,845 shares of the company traded hands, compared to its average volume of 1,216,453. The firm has a market capitalization of $9.30 billion, a PE ratio of 20.47, a P/E/G ratio of 2.61 and a beta of 0.91. The company has a 50 day moving average price of $76.68 and a 200-day moving average price of $82.97. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. Crown has a 1-year low of $69.61 and a 1-year high of $96.35.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. As a group, equities research analysts expect that Crown will post 5.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crown

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. lifted its position in shares of Crown by 202.1% in the first quarter. Nomura Holdings Inc. now owns 3,019,873 shares of the industrial products company's stock valued at $249,774,000 after buying an additional 2,020,200 shares during the last quarter. Norges Bank acquired a new stake in shares of Crown during the 4th quarter valued at $123,506,000. State Street Corp lifted its holdings in Crown by 55.5% during the 2nd quarter. State Street Corp now owns 3,709,202 shares of the industrial products company's stock worth $322,218,000 after buying an additional 1,323,107 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Crown by 474.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company's stock valued at $111,854,000 after purchasing an additional 1,003,312 shares during the period. Finally, Boston Partners acquired a new position in shares of Crown in the 4th quarter valued at about $84,960,000. 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.