Crown (NYSE:CCK) Price Target Raised to $147.00

Crown (NYSE:CCK) had its price target upped by Truist from $138.00 to $147.00 in a research report released on Wednesday, The Fly reports.

Other equities research analysts have also issued research reports about the company. Truist Securities began coverage on Crown in a research note on Tuesday, September 14th. They set a buy rating and a $138.00 price target for the company. Loop Capital began coverage on Crown in a research note on Tuesday, October 5th. They set a buy rating and a $165.00 price target for the company. Mizuho began coverage on Crown in a research note on Tuesday, October 12th. They set a buy rating and a $129.00 price target for the company. Jefferies Financial Group started coverage on Crown in a research note on Wednesday, September 15th. They set a buy rating and a $137.00 price target for the company. Finally, Seaport Res Ptn reiterated a buy rating on shares of Crown in a report on Wednesday, October 20th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Crown presently has an average rating of Buy and an average target price of $133.00.

NYSE:CCK opened at $113.13 on Wednesday. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 2.87 and a beta of 1.17. Crown has a 52-week low of $85.65 and a 52-week high of $114.55. The stock has a fifty day moving average of $108.50 and a 200 day moving average of $105.92. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.80 and a current ratio of 1.10.

Crown (NYSE:CCK) last issued its quarterly earnings results on Sunday, October 24th. The industrial products company reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.06. Crown had a return on equity of 36.22% and a net margin of 5.01%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. Equities analysts forecast that Crown will post 7.54 earnings per share for the current fiscal year.

Crown declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 22.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 26th. Investors of record on Friday, November 12th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.71%. Crown’s dividend payout ratio is presently 18.06%.

A number of large investors have recently made changes to their positions in CCK. First Horizon Advisors Inc. purchased a new position in Crown during the 3rd quarter valued at about $29,000. Advisory Services Network LLC purchased a new position in shares of Crown during the 2nd quarter worth approximately $30,000. Penserra Capital Management LLC grew its holdings in shares of Crown by 30.8% during the 2nd quarter. Penserra Capital Management LLC now owns 433 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 102 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Crown during the 4th quarter worth approximately $66,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Crown by 20.8% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 836 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 144 shares during the period. Institutional investors own 87.16% of the company’s stock.

About Crown

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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