Royal Bank of Canada Increases Crown (NYSE:CCK) Price Target to $120.00

Crown (NYSE:CCK) had its price target hoisted by equities research analysts at Royal Bank of Canada from $115.00 to $120.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 23.74% from the stock’s current price.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. UBS Group increased their price objective on shares of Crown from $109.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America reduced their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho raised their price objective on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays upped their target price on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.45.

Crown Price Performance

Shares of CCK opened at $96.98 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The company’s fifty day simple moving average is $87.93 and its 200 day simple moving average is $88.33. Crown has a 1-year low of $70.84 and a 1-year high of $98.48. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last issued its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the firm earned $1.02 EPS. Crown’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Crown will post 6.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the transaction, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its stake in shares of Crown by 33.4% in the 1st quarter. Verdence Capital Advisors LLC now owns 6,715 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 1,683 shares during the last quarter. Larson Financial Group LLC grew its position in Crown by 47.6% in the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 107 shares during the last quarter. Signaturefd LLC raised its stake in Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 245 shares in the last quarter. CWM LLC lifted its holdings in shares of Crown by 19.5% in the first quarter. CWM LLC now owns 15,297 shares of the industrial products company’s stock worth $1,365,000 after acquiring an additional 2,495 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Crown by 4.7% in the 1st quarter. New York State Common Retirement Fund now owns 56,203 shares of the industrial products company’s stock valued at $5,017,000 after purchasing an additional 2,500 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.