Crown Holdings Inc. (NYSE:CCK) Receives $59.38 Average PT from Brokerages
Shares of Crown Holdings Inc. (NYSE:CCK) have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are currently covering the stock. Six equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $59.38.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Crown Holdings from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Deutsche Bank AG set a $55.00 price objective on shares of Crown Holdings and gave the stock a “hold” rating in a report on Sunday, July 24th. Barclays PLC lifted their price objective on shares of Crown Holdings from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, July 25th. Credit Suisse Group AG set a $58.00 price objective on shares of Crown Holdings and gave the stock a “hold” rating in a report on Tuesday, July 19th. Finally, Jefferies Group lifted their price objective on shares of Crown Holdings from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, July 14th.
A number of large investors have recently bought and sold shares of CCK. Victory Capital Management Inc. increased its stake in Crown Holdings by 8,927.0% in the second quarter. Victory Capital Management Inc. now owns 1,572,602 shares of the company’s stock valued at $79,683,000 after buying an additional 1,555,181 shares during the last quarter. Norges Bank acquired a new stake in shares of Crown Holdings during the fourth quarter valued at approximately $52,762,000. Renaissance Technologies LLC boosted its stake in shares of Crown Holdings by 2,239.6% in the first quarter. Renaissance Technologies LLC now owns 779,100 shares of the company’s stock valued at $38,636,000 after buying an additional 745,800 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Crown Holdings by 92.7% in the second quarter. Point72 Asset Management L.P. now owns 1,516,200 shares of the company’s stock valued at $76,826,000 after buying an additional 729,400 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Crown Holdings by 5.4% in the first quarter. JPMorgan Chase & Co. now owns 10,127,174 shares of the company’s stock valued at $502,206,000 after buying an additional 517,868 shares during the period. 88.87% of the stock is owned by institutional investors and hedge funds.
Crown Holdings (NYSE:CCK) opened at 53.79 on Wednesday. The stock has a 50 day moving average of $54.02 and a 200-day moving average of $52.01. The stock has a market cap of $7.45 billion, a P/E ratio of 16.50 and a beta of 1.38. Crown Holdings has a one year low of $43.30 and a one year high of $56.79.
Crown Holdings (NYSE:CCK) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm earned $2.14 billion during the quarter, compared to the consensus estimate of $2.24 billion. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts anticipate that Crown Holdings will post $3.93 EPS for the current year.
Crown Holdings Company Profile
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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