Crown Holdings, Inc. (NYSE:CCK) Receives “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Crown Holdings, Inc. (NYSE:CCK) in a report issued on Friday morning. They currently have a $70.00 price objective on the industrial products company’s stock, up from their previous price objective of $63.00.
CCK has been the topic of several other reports. Zacks Investment Research upgraded Crown Holdings from a hold rating to a buy rating and set a $65.00 price objective on the stock in a research report on Tuesday, June 6th. BidaskClub downgraded Crown Holdings from a buy rating to a hold rating in a research report on Thursday. BMO Capital Markets restated a buy rating and issued a $65.00 price objective on shares of Crown Holdings in a research report on Wednesday, April 12th. Royal Bank Of Canada restated a buy rating and issued a $62.00 price objective on shares of Crown Holdings in a research report on Wednesday, July 12th. Finally, Citigroup Inc. restated a buy rating and issued a $63.00 price objective (up from $62.00) on shares of Crown Holdings in a research report on Friday, April 14th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $63.11.
Crown Holdings (NYSE:CCK) traded up 1.11% on Friday, hitting $60.90. The stock had a trading volume of 947,944 shares. Crown Holdings has a one year low of $51.15 and a one year high of $60.96. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 16.20 and a beta of 1.40. The stock’s 50 day moving average is $57.51 and its 200 day moving average is $54.76.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Crown Holdings had a return on equity of 75.25% and a net margin of 6.32%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Analysts anticipate that Crown Holdings will post $3.96 earnings per share for the current year.
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In related news, VP David A. Beaver sold 1,000 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $56.05, for a total transaction of $56,050.00. Following the transaction, the vice president now directly owns 2,398 shares in the company, valued at $134,407.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jenne K. Britell sold 4,525 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $55.65, for a total value of $251,816.25. Following the transaction, the director now owns 50,038 shares in the company, valued at $2,784,614.70. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Comerica Bank increased its position in Crown Holdings by 58.8% in the fourth quarter. Comerica Bank now owns 13,966 shares of the industrial products company’s stock worth $764,000 after buying an additional 5,170 shares during the period. AXA increased its position in Crown Holdings by 7.2% in the first quarter. AXA now owns 375,300 shares of the industrial products company’s stock worth $19,872,000 after buying an additional 25,100 shares during the period. Clinton Group Inc. increased its position in Crown Holdings by 103.7% in the first quarter. Clinton Group Inc. now owns 60,733 shares of the industrial products company’s stock worth $3,216,000 after buying an additional 30,918 shares during the period. Lazard Asset Management LLC increased its position in Crown Holdings by 11.9% in the first quarter. Lazard Asset Management LLC now owns 9,406,168 shares of the industrial products company’s stock worth $498,056,000 after buying an additional 997,113 shares during the period. Finally, KCG Holdings Inc. increased its position in Crown Holdings by 14.8% in the first quarter. KCG Holdings Inc. now owns 20,229 shares of the industrial products company’s stock worth $1,071,000 after buying an additional 2,603 shares during the period. Hedge funds and other institutional investors own 91.85% of the company’s stock.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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