Crown (NYSE:CCK) Given New $113.00 Price Target at Royal Bank of Canada

Crown (NYSE:CCK) had its price target increased by Royal Bank of Canada from $105.00 to $113.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on CCK. Wells Fargo & Company boosted their price target on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday. Loop Capital boosted their target price on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley increased their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday. UBS Group reduced their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Citigroup raised their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.2 %

Shares of CCK opened at $96.00 on Wednesday. Crown has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a 50 day simple moving average of $92.25 and a two-hundred day simple moving average of $84.80. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The firm has a market cap of $11.59 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $1.68 EPS. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts expect that Crown will post 6.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now owns 571,178 shares in the company, valued at $53,119,554. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,506 shares of company stock worth $2,116,899 over the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Crown by 110.9% in 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. EntryPoint Capital LLC purchased a new stake in Crown during the first quarter worth $41,000. Trivant Custom Portfolio Group LLC bought a new stake in Crown during the 1st quarter valued at $43,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown in the 3rd quarter valued at $55,000. Finally, Blue Trust Inc. raised its position in shares of Crown by 172.6% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 385 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

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.