Morgan Stanley Issues Positive Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price objective upped by Morgan Stanley from $114.00 to $118.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on the company. Truist Financial lowered their price objective on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Mizuho lifted their price objective on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. UBS Group lifted their price objective on Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen cut Crown from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Royal Bank Of Canada lifted their price objective on Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $111.64.

Crown Stock Performance

NYSE CCK opened at $103.43 on Wednesday. The stock has a 50-day simple moving average of $98.02 and a two-hundred day simple moving average of $90.25. The firm has a market capitalization of $12.04 billion, a P/E ratio of 22.24, a PEG ratio of 1.80 and a beta of 0.76. Crown has a fifty-two week low of $70.84 and a fifty-two week high of $105.38. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. Crown had a return on equity of 26.98% and a net margin of 4.62%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business posted $1.02 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Crown will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, May 15th. Crown’s dividend payout ratio is presently 22.37%.

Insider Activity at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the sale, the vice president now owns 4,500 shares of the company’s stock, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Crown

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 107 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Crown by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 111 shares during the period. Farther Finance Advisors LLC increased its position in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the period. Signaturefd LLC increased its position in shares of Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 245 shares during the period. Finally, National Pension Service increased its position in shares of Crown by 74.4% during the first quarter. National Pension Service now owns 443 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Company Profile

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.