Crown (NYSE:CCK) Price Target Increased to $95.00 by Analysts at Truist Financial

Crown (NYSE:CCK) had its price objective increased by research analysts at Truist Financial from $88.00 to $95.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 11.90% from the company’s current price.

CCK has been the subject of a number of other research reports. Loop Capital boosted their target price on shares of Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird lifted their price target on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Citigroup cut their price target on Crown from $102.00 to $94.00 and set a “buy” rating for the company in a report on Monday, July 8th. UBS Group dropped their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.64.

Crown Stock Performance

Shares of CCK opened at $84.90 on Wednesday. Crown has a 52 week low of $69.61 and a 52 week high of $95.92. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. The company has a market capitalization of $10.25 billion, a PE ratio of 24.50, a PEG ratio of 2.20 and a beta of 0.85. The company’s 50 day moving average price is $79.17 and its 200 day moving average price is $80.27.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 24.18% and a net margin of 3.68%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. Research analysts expect that Crown will post 6.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock worth $4,575,870 in the last quarter. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crown

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new position in shares of Crown during the 1st quarter worth about $27,000. Mather Group LLC. acquired a new position in Crown during the first quarter valued at approximately $32,000. Quest Partners LLC bought a new stake in Crown in the fourth quarter valued at approximately $34,000. Quarry LP raised its holdings in Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of Crown during the first quarter worth $41,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.