Crown (NYSE:CCK) Coverage Initiated by Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of Crown (NYSE:CCK) in a research note issued on Wednesday, TipRanks reports. The brokerage set a “buy” rating and a $137.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 26.96% from the stock’s previous close.

A number of other brokerages have also weighed in on CCK. BMO Capital Markets lowered Crown from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $125.00 to $110.00 in a report on Wednesday, May 26th. Truist initiated coverage on Crown in a report on Monday. They issued a “positive” rating and a $138.00 price objective on the stock. Longbow Research initiated coverage on Crown in a research note on Thursday, May 20th. They issued a “buy” rating and a $152.00 target price for the company. Finally, Truist Securities initiated coverage on Crown in a research note on Tuesday. They issued a “buy” rating and a $138.00 target price for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $120.88.

Shares of CCK traded up $2.32 during trading hours on Wednesday, reaching $107.91. 13,899 shares of the company traded hands, compared to its average volume of 1,007,800. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.83 and a beta of 1.18. Crown has a 12-month low of $71.92 and a 12-month high of $114.55. The company has a current ratio of 1.57, a quick ratio of 1.24 and a debt-to-equity ratio of 2.89. The stock’s fifty day moving average price is $105.23 and its 200 day moving average price is $103.87.

Crown (NYSE:CCK) last released its quarterly earnings data on Sunday, July 18th. The industrial products company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.36. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.94 billion. Crown had a net margin of 5.84% and a return on equity of 38.22%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, research analysts forecast that Crown will post 7.49 earnings per share for the current year.

In related news, insider Hock Huat Goh sold 3,735 shares of the stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $110.21, for a total value of $411,634.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Conway sold 370 shares of the stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $100.03, for a total value of $37,011.10. Following the completion of the transaction, the director now directly owns 1,031,407 shares of the company’s stock, valued at approximately $103,171,642.21. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in shares of Crown in the 2nd quarter worth approximately $30,000. Signaturefd LLC increased its position in Crown by 108.5% in the 1st quarter. Signaturefd LLC now owns 367 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 191 shares during the period. Allred Capital Management LLC acquired a new stake in Crown in the 1st quarter valued at approximately $36,000. Penserra Capital Management LLC increased its position in Crown by 30.8% in the 2nd quarter. Penserra Capital Management LLC now owns 433 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 102 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Crown in the 1st quarter valued at approximately $58,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

About Crown

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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Analyst Recommendations for Crown (NYSE:CCK)

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