Jefferies Group LLC Reaffirms Buy Rating for Crown Holdings, Inc. (CCK)

Crown Holdings, Inc. (NYSE:CCK)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group LLC in a note issued to investors on Friday. They presently have a $63.00 target price on the industrial products company’s stock. Jefferies Group LLC’s price target points to a potential upside of 14.40% from the stock’s previous close.

Several other brokerages have also recently commented on CCK. BMO Capital Markets reiterated a “buy” rating and set a $65.00 price target on shares of Crown Holdings in a research report on Wednesday, April 12th. Citigroup Inc reiterated a “buy” rating and set a $63.00 price target (up from $62.00) on shares of Crown Holdings in a research report on Friday, April 14th. Zacks Investment Research cut Crown Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, January 4th. Vertical Research upgraded Crown Holdings from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, February 6th. Finally, Barclays PLC dropped their price target on Crown Holdings from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, February 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Crown Holdings currently has an average rating of “Buy” and a consensus price target of $61.89.

Analyst Recommendations for Crown Holdings (NYSE:CCK)

Crown Holdings (NYSE:CCK) traded up 0.58% during midday trading on Friday, reaching $55.07. 1,366,765 shares of the company traded hands. The stock has a market capitalization of $7.63 billion, a P/E ratio of 15.47 and a beta of 1.35. The firm has a 50-day moving average of $53.35 and a 200-day moving average of $53.74. Crown Holdings has a 1-year low of $48.04 and a 1-year high of $57.49.

Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Crown Holdings had a return on equity of 83.94% and a net margin of 5.99%. The firm earned $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Crown Holdings will post $3.92 earnings per share for the current year.

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In other Crown Holdings news, insider Thomas A. Kelly sold 40,000 shares of the company’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $53.18, for a total value of $2,127,200.00. Following the completion of the sale, the insider now directly owns 115,256 shares in the company, valued at approximately $6,129,314.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC boosted its stake in shares of Crown Holdings by 0.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,214 shares of the industrial products company’s stock valued at $274,000 after buying an additional 14 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Crown Holdings by 1.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,932 shares of the industrial products company’s stock valued at $207,000 after buying an additional 52 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Crown Holdings by 2.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,554 shares of the industrial products company’s stock valued at $203,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Crown Holdings by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 11,900 shares of the industrial products company’s stock valued at $626,000 after buying an additional 100 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Crown Holdings by 10.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,970 shares of the industrial products company’s stock valued at $105,000 after buying an additional 191 shares during the last quarter. Institutional investors own 90.76% of the company’s stock.

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.

5 Day Chart for NYSE:CCK

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