Crown (NYSE:CCK) Given New $115.00 Price Target at Royal Bank of Canada

Crown (NYSE:CCK) had its price objective lifted by investment analysts at Royal Bank of Canada from $113.00 to $115.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 32.24% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Loop Capital increased their price target on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group cut their price objective on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup raised their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Truist Financial upped their price objective on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company upped their price target on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.92.

Crown Trading Down 0.4 %

CCK traded down $0.39 during trading on Friday, reaching $86.97. 526,539 shares of the company’s stock were exchanged, compared to its average volume of 1,408,323. The firm has a fifty day moving average price of $85.66 and a two-hundred day moving average price of $89.23. The stock has a market capitalization of $10.40 billion, a PE ratio of 107.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87. Crown has a one year low of $70.84 and a one year high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 24.57% and a net margin of 0.83%. As a group, equities research analysts forecast that Crown will post 6.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crown

A number of institutional investors have recently added to or reduced their stakes in CCK. Sanctuary Advisors LLC bought a new stake in Crown during the second quarter worth about $457,000. GAMMA Investing LLC boosted its holdings in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. CWM LLC increased its stake in shares of Crown by 298.2% during the third quarter. CWM LLC now owns 18,363 shares of the industrial products company’s stock valued at $1,761,000 after purchasing an additional 13,751 shares in the last quarter. Perpetual Ltd raised its position in shares of Crown by 5.9% in the 3rd quarter. Perpetual Ltd now owns 96,399 shares of the industrial products company’s stock worth $9,243,000 after purchasing an additional 5,367 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Crown by 57.9% during the 3rd quarter. UMB Bank n.a. now owns 1,851 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 679 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

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.