Crown Holdings Inc. (CCK) Earns Outperform Rating from Analysts at Royal Bank Of Canada
Analysts at Royal Bank Of Canada initiated coverage on shares of Crown Holdings Inc. (NYSE:CCK) in a research note issued on Friday. The firm set an “outperform” rating and a $65.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 14.68% from the stock’s previous close.
A number of other brokerages have also recently commented on CCK. RBC Capital Markets began coverage on shares of Crown Holdings in a report on Thursday. They issued an “outperform” rating on the stock. BMO Capital Markets raised shares of Crown Holdings from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $56.00 to $65.00 in a report on Monday. They noted that the move was a valuation call. Goldman Sachs Group Inc. reaffirmed a “hold” rating on shares of Crown Holdings in a report on Thursday, June 2nd. Zacks Investment Research raised shares of Crown Holdings from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Barclays PLC lifted their target price on shares of Crown Holdings from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 25th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $60.00.
Crown Holdings (NYSE:CCK) opened at 56.68 on Friday. The stock has a market capitalization of $7.85 billion, a P/E ratio of 17.39 and a beta of 1.38. The firm’s 50-day moving average is $54.43 and its 200 day moving average is $52.54. Crown Holdings has a 12-month low of $43.30 and a 12-month high of $57.06.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The business earned $2.14 billion during the quarter, compared to the consensus estimate of $2.24 billion. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities analysts expect that Crown Holdings will post $3.93 EPS for the current year.
Several large investors have recently added to or reduced their stakes in CCK. Bessemer Group Inc. acquired a new stake in Crown Holdings during the second quarter valued at approximately $139,000. Tower Research Capital LLC TRC acquired a new stake in Crown Holdings during the second quarter valued at approximately $146,000. Point72 Asia Hong Kong Ltd raised its stake in Crown Holdings by 89.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,917 shares of the company’s stock valued at $148,000 after buying an additional 1,381 shares in the last quarter. First Manhattan Co. raised its stake in Crown Holdings by 2.9% in the second quarter. First Manhattan Co. now owns 3,089 shares of the company’s stock valued at $156,000 after buying an additional 88 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Crown Holdings during the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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