Wells Fargo & Company Issues Positive Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its target price hoisted by equities researchers at Wells Fargo & Company from $86.00 to $90.00 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 1.88% from the stock’s current price.

Several other research analysts have also recently commented on CCK. Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Barclays lifted their target price on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America dropped their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group reduced their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada boosted their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.77.

Crown Trading Up 1.1 %

CCK opened at $88.34 on Friday. 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 has a 52-week low of $70.84 and a 52-week high of $98.46. The firm’s 50 day moving average is $85.66 and its 200-day moving average is $89.23. The firm has a market capitalization of $10.57 billion, a P/E ratio of 109.06, a P/E/G ratio of 1.70 and a beta of 0.87.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a net margin of 0.83% and a return on equity of 24.57%. Analysts expect that Crown will post 6.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd raised its stake in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Crown in the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC acquired a new stake in Crown during the 3rd quarter valued at $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown in the third quarter worth $55,000. 90.93% of the stock is owned by institutional investors.

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.