Traders Buy Crown (CCK) on Weakness

Investors bought shares of Crown Holdings, Inc. (NYSE:CCK) on weakness during trading on Tuesday. $44.23 million flowed into the stock on the tick-up and $18.95 million flowed out of the stock on the tick-down, for a money net flow of $25.28 million into the stock. Of all companies tracked, Crown had the 14th highest net in-flow for the day. Crown traded down ($0.10) for the day and closed at $54.65

Several research analysts recently issued reports on CCK shares. Zacks Investment Research lowered shares of Crown from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Citigroup cut their target price on shares of Crown from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, January 7th. Deutsche Bank upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 3rd. KeyCorp reiterated a “hold” rating on shares of Crown in a research report on Thursday, February 7th. Finally, Royal Bank of Canada upped their target price on shares of Crown from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $59.27.

The company has a debt-to-equity ratio of 6.62, a quick ratio of 0.61 and a current ratio of 1.04. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.66.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, February 6th. The industrial products company reported $1.00 earnings per share for the quarter, hitting the consensus estimate of $1.00. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.81 billion. Crown had a net margin of 3.94% and a return on equity of 57.46%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities analysts anticipate that Crown Holdings, Inc. will post 5.31 EPS for the current fiscal year.

In other news, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the completion of the transaction, the director now directly owns 1,155,464 shares of the company’s stock, valued at $61,828,878.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David A. Beaver sold 10,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total transaction of $532,400.00. Following the transaction, the vice president now directly owns 21,417 shares of the company’s stock, valued at $1,140,241.08. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Crown by 1.2% during the third quarter. Vanguard Group Inc. now owns 11,991,072 shares of the industrial products company’s stock valued at $575,572,000 after acquiring an additional 137,867 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Crown by 1.2% during the third quarter. Vanguard Group Inc now owns 11,991,072 shares of the industrial products company’s stock valued at $575,572,000 after acquiring an additional 137,867 shares during the last quarter. FMR LLC raised its stake in shares of Crown by 48.7% during the fourth quarter. FMR LLC now owns 8,692,722 shares of the industrial products company’s stock valued at $361,357,000 after acquiring an additional 2,846,721 shares during the last quarter. BlackRock Inc. raised its stake in shares of Crown by 2.4% during the third quarter. BlackRock Inc. now owns 7,739,341 shares of the industrial products company’s stock valued at $371,487,000 after acquiring an additional 183,173 shares during the last quarter. Finally, CI Global Investments Inc. raised its stake in shares of Crown by 7.9% during the third quarter. CI Global Investments Inc. now owns 7,396,847 shares of the industrial products company’s stock valued at $355,049,000 after acquiring an additional 542,104 shares during the last quarter.

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About Crown (NYSE:CCK)

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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