Wall Street Zen Downgrades Crown (NYSE:CCK) to Buy

Crown (NYSE:CCK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Friday.

A number of other analysts have also issued reports on CCK. Bank of America lifted their target price on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price target on Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Friday. Robert W. Baird downgraded Crown from an "outperform" rating to a "neutral" rating and set a $105.00 price target for the company. in a research note on Thursday. Truist Financial lifted their price target on Crown from $110.00 to $117.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Finally, Barclays lifted their price target on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Crown currently has an average rating of "Moderate Buy" and an average price target of $119.45.

Crown Trading Up 0.0%

Shares of CCK traded up $0.01 during trading hours on Friday, hitting $106.31. The stock had a trading volume of 756,944 shares, compared to its average volume of 1,235,711. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87. The firm has a market cap of $12.37 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.74 and a beta of 0.76. The company's fifty day simple moving average is $102.07 and its 200 day simple moving average is $92.57. 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, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a return on equity of 26.98% and a net margin of 4.62%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $1.02 EPS. Equities research analysts forecast that Crown will post 6.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction 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. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $211,743.30. Following the transaction, the vice president owned 4,500 shares of the company's stock, valued at approximately $447,345. This represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Crown

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC raised its holdings in Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after purchasing an additional 107 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings 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 purchasing an additional 111 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after purchasing an additional 256 shares in the last quarter. Signaturefd LLC raised its holdings 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 purchasing an additional 245 shares in the last quarter. Finally, National Pension Service raised its holdings in Crown by 74.4% during the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after purchasing an additional 189 shares in the last quarter. 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.

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