Crown (NYSE:CCK) Given New $100.00 Price Target at Robert W. Baird

Crown (NYSE:CCK) had its price objective boosted by Robert W. Baird from $90.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

CCK has been the topic of a number of other research reports. Royal Bank of Canada lowered their price target on Crown from $110.00 to $97.00 and set an outperform rating on the stock in a research report on Thursday, February 8th. Mizuho lowered their price target on Crown from $105.00 to $96.00 and set a buy rating on the stock in a research report on Tuesday, February 6th. Morgan Stanley began coverage on Crown in a research report on Monday, March 18th. They set an equal weight rating and a $87.00 price target on the stock. Wells Fargo & Company lowered their price target on Crown from $78.00 to $76.00 and set an equal weight rating on the stock in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised Crown from a neutral rating to an overweight rating and set a $85.00 target price on the stock in a research report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $99.29.

Crown Price Performance

NYSE:CCK opened at $83.00 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The stock’s 50-day simple moving average is $77.94 and its 200 day simple moving average is $82.62. The company has a market cap of $10.03 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. Crown has a 52-week low of $69.61 and a 52-week high of $96.35.

Crown (NYSE:CCK) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 24.23% and a net margin of 3.51%. Crown’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, sell-side analysts forecast that Crown will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.20%. Crown’s dividend payout ratio is presently 28.82%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the transaction, the chief executive officer now directly owns 616,178 shares in the company, valued at $52,486,042.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC acquired a new position in shares of Crown during the third quarter worth $25,000. Sound Income Strategies LLC acquired a new stake in Crown in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new stake in Crown in the first quarter valued at $27,000. Mather Group LLC. acquired a new stake in Crown in the first quarter valued at $32,000. Finally, Quest Partners LLC acquired a new stake in Crown in the fourth quarter valued at $34,000. 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.