Crown (NYSE:CCK) Stock Rating Upgraded by StockNews.com

Crown (NYSE:CCK) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other equities analysts have also commented on CCK. Barclays raised their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Royal Bank of Canada raised their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Bank of America cut their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Crown Trading Down 0.4 %

Crown stock traded down $0.34 during midday trading on Friday, reaching $87.01. The stock had a trading volume of 1,084,221 shares, compared to its average volume of 1,432,689. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown has a 52-week low of $70.84 and a 52-week high of $98.46. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 107.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87. The company has a fifty day moving average of $85.55 and a 200 day moving average of $89.21.

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, analysts anticipate that Crown will post 6.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crown

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after acquiring an additional 102,789 shares in the last quarter. State Street Corp boosted its stake in Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Crown by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after buying an additional 283,014 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

About Crown

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.