Crown (NYSE:CCK) Lifted to Outperform at Robert W. Baird

Crown (NYSE:CCK) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $90.00 price target on the industrial products company’s stock, up from their prior price target of $85.00. Robert W. Baird’s price target would indicate a potential upside of 18.11% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley began coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Wolfe Research began coverage on shares of Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. UBS Group began coverage on shares of Crown in a research note on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Truist Financial reaffirmed a “hold” rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.21.

Crown Trading Down 1.4 %

CCK opened at $76.20 on Tuesday. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.61 and a beta of 0.91. The company’s 50 day moving average price is $76.67 and its two-hundred day moving average price is $83.05.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share 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 business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts predict that Crown will post 5.91 earnings per share for the current year.

Institutional Trading of Crown

Large investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in shares of Crown in the first quarter worth about $143,000. US Bancorp DE increased its stake in shares of Crown by 9.6% in the first quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 308 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Crown by 30.3% in the first quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 666 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Crown in the first quarter worth about $392,000. Finally, Great West Life Assurance Co. Can increased its stake in shares of Crown by 43.6% in the first quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock worth $8,318,000 after purchasing an additional 19,046 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.