Crown Holdings Inc. (CCK) Given Average Rating of “Buy” by Analysts
Crown Holdings Inc. (NYSE:CCK) has earned a consensus rating of “Buy” from the thirteen research firms that are currently covering the company. Five analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $61.56.
CCK has been the subject of several research reports. Zacks Investment Research cut shares of Crown Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 13th. Deutsche Bank AG set a $58.00 price objective on Crown Holdings and gave the company a “hold” rating in a report on Tuesday, October 18th. BMO Capital Markets raised Crown Holdings from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $56.00 to $65.00 in a report on Monday, September 26th. They noted that the move was a valuation call. Royal Bank Of Canada initiated coverage on Crown Holdings in a report on Friday, September 30th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Jefferies Group reissued a “buy” rating and issued a $63.00 price objective (down previously from $64.00) on shares of Crown Holdings in a report on Monday, October 24th.
Shares of Crown Holdings (NYSE:CCK) opened at 55.64 on Friday. Crown Holdings has a one year low of $43.30 and a one year high of $57.49. The firm has a 50-day moving average of $54.34 and a 200 day moving average of $53.60. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 15.63 and a beta of 1.40.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.03. The company earned $2.33 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Crown Holdings had a net margin of 5.93% and a return on equity of 91.21%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. Equities research analysts anticipate that Crown Holdings will post $3.92 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its stake in shares of Crown Holdings by 28.6% in the third quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $103,000 after buying an additional 400 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Crown Holdings by 109.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,300 shares of the company’s stock valued at $131,000 after buying an additional 1,200 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Crown Holdings during the second quarter valued at about $139,000. Tower Research Capital LLC TRC acquired a new stake in shares of Crown Holdings during the second quarter valued at about $146,000. Finally, Point72 Asia Hong Kong Ltd increased its stake in shares of 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. 90.25% of the stock is owned by institutional investors and hedge funds.
Crown Holdings Company Profile
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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