Crown (NYSE:CCK) Given New $108.00 Price Target at UBS Group

Crown (NYSE:CCK) had its price objective dropped by equities research analysts at UBS Group from $113.00 to $108.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s target price indicates a potential upside of 36.71% from the company’s previous close.

CCK has been the subject of several other reports. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird boosted their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Barclays boosted their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Truist Financial upped their price target on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Morgan Stanley upped their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Crown Trading Down 1.3 %

NYSE:CCK traded down $1.02 during mid-day trading on Friday, hitting $79.00. 715,336 shares of the stock traded hands, compared to its average volume of 955,522. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 97.53, a PEG ratio of 1.95 and a beta of 0.86. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The firm’s 50 day moving average is $87.96 and its two-hundred day moving average is $87.68. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, equities research analysts predict that Crown will post 6.34 earnings per share for the current year.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % 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, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd boosted its position in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new position in Crown in the 3rd quarter valued at about $44,000. Catalyst Capital Advisors LLC purchased a new position in Crown in the 3rd quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Crown in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors 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.