Citigroup Boosts Crown (NYSE:CCK) Price Target to $100.00

Crown (NYSE:CCK) had its target price increased by Citigroup from $94.00 to $100.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on CCK. Wells Fargo & Company raised their price objective on shares of Crown from $85.00 to $88.00 and gave the company an equal weight rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Crown from $85.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of Crown from $89.00 to $92.00 and gave the stock an equal weight rating in a research note on Wednesday. Robert W. Baird increased their price objective on Crown from $90.00 to $100.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, Bank of America lifted their target price on Crown from $98.00 to $102.00 and gave the stock a buy rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $99.64.

Crown Price Performance

CCK stock opened at $84.90 on Thursday. Crown has a 1 year low of $69.61 and a 1 year high of $95.92. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.77. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.20 and a beta of 0.85. The company has a 50 day simple moving average of $79.17 and a 200 day simple moving average of $80.27.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.68 EPS. Research analysts anticipate that Crown will post 6.07 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.18%. Crown’s dividend payout ratio is currently 28.82%.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,000 shares of company stock worth $4,575,870. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCK. 1832 Asset Management L.P. bought a new stake in shares of Crown during the first quarter valued at approximately $119,167,000. Norges Bank acquired a new position in Crown during the fourth quarter worth $109,826,000. Clearbridge Investments LLC lifted its stake in shares of Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after buying an additional 1,003,312 shares in the last quarter. Boston Partners acquired a new position in shares of Crown during the fourth quarter valued at about $84,960,000. Finally, Metropolis Capital Ltd bought a new stake in shares of Crown during the second quarter worth about $29,291,000. Institutional investors own 90.93% of the company’s stock.

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.