Crown Holdings Inc. (CCK) Now Covered by RBC Capital Markets
Stock analysts at RBC Capital Markets started coverage on shares of Crown Holdings Inc. (NYSE:CCK) in a research note issued on Thursday. The firm set an “outperform” rating and a $65.00 price target on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 13.86% from the stock’s current price.
A number of other research firms have also recently commented on CCK. BMO Capital Markets upgraded Crown Holdings from a “market perform” rating to an “outperform” rating and increased their price target for the company from $56.00 to $65.00 in a research note on Monday, September 26th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Crown Holdings in a research note on Thursday, June 2nd. Zacks Investment Research upgraded Crown Holdings from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Deutsche Bank AG set a $55.00 price target on Crown Holdings and gave the company a “hold” rating in a research note on Sunday, July 24th. Finally, Barclays PLC increased their price target on Crown Holdings from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 25th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $60.38.
Crown Holdings (NYSE:CCK) opened at 57.09 on Thursday. Crown Holdings has a 52 week low of $43.30 and a 52 week high of $57.46. The company’s 50 day moving average price is $54.50 and its 200-day moving average price is $52.60. The company has a market capitalization of $7.91 billion, a P/E ratio of 17.51 and a beta of 1.38.
Crown Holdings (NYSE:CCK) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The company earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business posted $1.03 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts expect that Crown Holdings will post $3.93 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Crown Holdings by 3.6% in the first quarter. State Street Corp now owns 2,475,975 shares of the company’s stock valued at $122,800,000 after buying an additional 85,999 shares during the last quarter. BB&T Securities LLC raised its stake in shares of Crown Holdings by 4.3% in the first quarter. BB&T Securities LLC now owns 53,430 shares of the company’s stock valued at $2,649,000 after buying an additional 2,193 shares during the last quarter. M&T Bank Corp raised its stake in shares of Crown Holdings by 14.3% in the first quarter. M&T Bank Corp now owns 10,909 shares of the company’s stock valued at $540,000 after buying an additional 1,366 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Crown Holdings during the first quarter valued at approximately $1,062,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Crown Holdings by 5.4% in the first quarter. JPMorgan Chase & Co. now owns 10,127,174 shares of the company’s stock valued at $502,206,000 after buying an additional 517,868 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.
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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