Crown’s (CCK) Hold Rating Reiterated at Truist Financial

Truist Financial restated their hold rating on shares of Crown (NYSE:CCK) in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $88.00 price objective on the industrial products company’s stock, down from their previous price objective of $100.00.

Several other equities research analysts have also issued reports on CCK. Morgan Stanley initiated coverage on shares of Crown in a report on Monday, March 18th. They issued an equal weight rating and a $87.00 price target on the stock. JPMorgan Chase & Co. raised shares of Crown from a neutral rating to an overweight rating and set a $85.00 price target on the stock in a report on Wednesday, February 7th. Mizuho lowered their price target on shares of Crown from $105.00 to $96.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Wolfe Research started coverage on shares of Crown in a report on Friday, March 1st. They issued an outperform rating and a $102.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Crown from $93.00 to $78.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Crown currently has a consensus rating of Moderate Buy and a consensus target price of $99.36.

Crown Trading Up 1.0 %

Shares of CCK stock opened at $79.26 on Wednesday. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The firm’s fifty day simple moving average is $79.29 and its 200 day simple moving average is $83.95. The firm has a market capitalization of $9.57 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.64 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm posted $1.17 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Crown will post 5.95 EPS for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. Crown’s dividend payout ratio is presently 26.60%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $90.96, for a total transaction of $682,200.00. Following the transaction, the chief executive officer now directly owns 651,264 shares in the company, valued at approximately $59,238,973.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

A number of large investors have recently bought and sold shares of CCK. BluePath Capital Management LLC bought a new position in shares of Crown during the 3rd quarter worth approximately $25,000. Sound Income Strategies LLC bought a new position in shares of Crown during the 4th quarter worth approximately $26,000. Quest Partners LLC bought a new position in shares of Crown during the 4th quarter worth approximately $34,000. Quarry LP grew its stake in shares of Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Crown during the 2nd quarter worth approximately $78,000. 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.