Several brokerages have updated their recommendations and price targets on shares of Crown (NYSE: CCK) in the last few weeks:

  • 4/22/2019 – Crown had its price target raised by analysts at Deutsche Bank AG from $60.00 to $65.00. They now have a “positive” rating on the stock.
  • 4/17/2019 – Crown was given a new $56.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 4/17/2019 – Crown was given a new $65.00 price target on by analysts at Wells Fargo & Co. They now have a “buy” rating on the stock.
  • 4/16/2019 – Crown was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Crown Holdings projects first-quarter 2019 earnings per share between $1.00 and $1.10. The company’s results will be hurt by negative impact of foreign currency translation. Going forward, it also expects to incur additional restructuring charges related to its plant closures. The company will also bear the brunt of fluctuations in the price of raw materials due to tariffs. High level of indebtedness and substantial competition also remain matter of concerns.”
  • 4/10/2019 – Crown was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Crown Holdings projects first-quarter 2019 earnings per share between $1.00 and $1.10.The company will gain from solid global beverage-can demand and geographic expansion. Focus on cost control, realignment of production schedules and disciplined pricing remain growth drivers. However, Crown Holdings' results will be hurt by negative impact of foreign currency-translation. The company will also bear the brunt of fluctuations in the price of raw materials due to tariffs. High level of indebtedness and substantial competition also remain matter of concerns.”
  • 3/1/2019 – Crown was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.

Shares of CCK stock traded up $1.28 during mid-day trading on Monday, reaching $57.71. The company’s stock had a trading volume of 66,406 shares, compared to its average volume of 1,051,695. Crown Holdings, Inc. has a 1-year low of $39.05 and a 1-year high of $57.36. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a debt-to-equity ratio of 6.62, a quick ratio of 0.61 and a current ratio of 1.04.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.05. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Crown had a net margin of 3.86% and a return on equity of 57.14%. The business’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.17 earnings per share for the current year.

In related news, VP David A. Beaver sold 10,000 shares of Crown stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $53.24, for a total transaction of $532,400.00. Following the sale, the vice president now directly owns 21,417 shares in the company, valued at $1,140,241.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Conway sold 129,000 shares of Crown stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total value of $6,902,790.00. Following the sale, the director now owns 1,155,464 shares in the company, valued at $61,828,878.64. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Jupiter Wealth Management LLC purchased a new position in shares of Crown in the first quarter worth $6,099,000. Pennsylvania Trust Co purchased a new stake in Crown in the first quarter worth about $229,000. IFM Investors Pty Ltd increased its position in Crown by 20.1% in the first quarter. IFM Investors Pty Ltd now owns 9,673 shares of the industrial products company’s stock worth $528,000 after buying an additional 1,616 shares in the last quarter. City Holding Co. increased its position in Crown by 118.3% in the first quarter. City Holding Co. now owns 7,423 shares of the industrial products company’s stock worth $405,000 after buying an additional 4,023 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new stake in Crown in the first quarter worth about $26,000.

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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