Crown (CCK) Receives New Coverage from Analysts at UBS
UBS initiated coverage on shares of Crown (NYSE:CCK) in a report released on Wednesday morning. The firm issued a neutral rating and a $65.00 price objective on the industrial products company’s stock.
A number of other analysts have also issued reports on the stock. KeyCorp reissued a hold rating on shares of Crown in a research note on Friday, November 10th. Barclays boosted their target price on shares of Crown from $69.00 to $70.00 and gave the company an overweight rating in a research note on Friday, October 20th. Wells Fargo & Company boosted their target price on shares of Crown from $57.00 to $60.00 and gave the company a market perform rating in a research note on Friday, October 20th. Zacks Investment Research lowered shares of Crown from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets reissued a buy rating and set a $65.00 target price on shares of Crown in a research note on Monday, September 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $64.27.
Shares of Crown (NYSE CCK) traded up $0.05 on Wednesday, hitting $59.22. 524,000 shares of the stock were exchanged, compared to its average volume of 781,227. The stock has a market capitalization of $7,944.93, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.10 and a beta of 1.44. Crown has a 1 year low of $51.57 and a 1 year high of $61.61. The company has a debt-to-equity ratio of 4.60, a current ratio of 1.04 and a quick ratio of 0.57.
Crown (NYSE:CCK) last issued its earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.41. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Crown had a net margin of 5.64% and a return on equity of 60.44%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 earnings per share. equities analysts forecast that Crown will post 4.03 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in CCK. Toronto Dominion Bank lifted its stake in Crown by 12.1% in the second quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 185 shares during the period. Creative Planning lifted its stake in Crown by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 23 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in Crown by 40.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 863 shares during the period. First Republic Investment Management Inc. purchased a new stake in Crown in the third quarter worth about $205,000. Finally, Oakbrook Investments LLC purchased a new stake in Crown in the third quarter worth about $207,000. 90.05% of the stock is owned by institutional investors.
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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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