Wells Fargo & Company Raises Crown (NYSE:CCK) Price Target to $110.00

Crown (NYSE:CCK - Get Free Report) had its price objective upped by investment analysts at Wells Fargo & Company from $101.00 to $110.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's price target would indicate a potential upside of 3.65% from the company's current price.

Several other equities analysts have also issued reports on CCK. Mizuho upped their price target on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday. Barclays upped their target price on shares of 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 downgraded shares of Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 28th. Finally, Truist Financial lifted their price objective on Crown from $110.00 to $117.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $119.45.

Crown Price Performance

Crown stock traded down $0.17 during trading hours on Friday, hitting $106.13. 346,884 shares of the stock were exchanged, compared to its average volume of 1,233,641. Crown has a 12 month low of $75.98 and a 12 month high of $109.48. The business's 50-day moving average is $101.89 and its two-hundred day moving average is $92.40. 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 stock has a market capitalization of $12.35 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.74 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The company had revenue of $2.89 billion during 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 firm's quarterly 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. Equities research analysts expect that Crown will post 6.96 EPS for the current fiscal year.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 135,014 shares of the company's stock, valued at approximately $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the 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 sale, the vice president directly owned 4,500 shares in the company, valued at $447,345. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Crown

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its stake in Crown by 47.6% in the first 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 in the last quarter. Geneos Wealth Management Inc. increased its holdings in Crown by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock valued at $32,000 after buying an additional 111 shares during the period. Signaturefd LLC raised its position in shares of Crown by 161.2% in the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock valued at $35,000 after buying an additional 245 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares during the period. Finally, National Pension Service lifted its holdings in shares of Crown by 74.4% during the 1st quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after acquiring an additional 189 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

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.

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