Crown (NYSE:CCK) Reaches New 1-Year High – Still a Buy?

Crown Holdings, Inc. (NYSE:CCK)’s stock price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $122.97 and last traded at $122.89, with a volume of 363,148 shares traded. The stock had previously closed at $119.24.

Analysts Set New Price Targets

A number of research analysts have recently commented on CCK shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Crown in a report on Wednesday, July 22nd. UBS Group upped their price objective on shares of Crown from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Citigroup increased their target price on shares of Crown from $137.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Raymond James Financial increased their target price on shares of Crown from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $121.00 target price on shares of Crown in a research note on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.47.

Crown Price Performance

The business has a 50-day simple moving average of $112.79 and a two-hundred day simple moving average of $108.45. The company has a quick ratio of 0.71, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.49 and a beta of 0.54.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm earned $2.24 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts predict that Crown Holdings, Inc. will post 8.41 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.40 annualized dividend and a yield of 1.1%. Crown’s dividend payout ratio (DPR) is currently 19.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCK. Community Bank N.A. acquired a new stake in Crown in the 2nd quarter valued at about $32,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of Crown during the 3rd quarter valued at about $32,000. Elevation Wealth Partners LLC boosted its position in shares of Crown by 628.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 481 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 415 shares in the last quarter. Ballast Advisors LLC acquired a new position in shares of Crown in the 1st quarter worth approximately $57,000. Finally, Provenance Wealth Advisors LLC acquired a new position in shares of Crown in the 3rd quarter worth approximately $73,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Company Profile

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.