Crown (NYSE:CCK) Rating Lowered to Neutral at JPMorgan Chase & Co.

Crown (NYSE:CCK) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $121.00 price target on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.18% from the stock’s previous close.

A number of other research firms also recently issued reports on CCK. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Crown in a report on Wednesday, July 22nd. BMO Capital Markets raised their price target on Crown from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Wall Street Zen downgraded Crown from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup lifted their price target on Crown from $137.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Finally, Royal Bank Of Canada upped their price objective on Crown from $131.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.47.

Crown Trading Down 2.0%

Shares of Crown stock opened at $120.78 on Wednesday. Crown has a 1 year low of $91.31 and a 1 year high of $123.37. The firm has a market cap of $13.05 billion, a PE ratio of 14.53, a PEG ratio of 1.54 and a beta of 0.54. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.14 and a quick ratio of 0.71. The company has a 50 day simple moving average of $112.88 and a two-hundred day simple moving average of $108.63.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.13. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Crown had a net margin of 5.78% and a return on equity of 27.41%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.24 EPS. Analysts expect that Crown will post 8.41 earnings per share for the current fiscal year.

Institutional Trading of Crown

A number of institutional investors have recently made changes to their positions in the stock. Reynders McVeigh Capital Management LLC grew its holdings in shares of Crown by 3.2% in the second quarter. Reynders McVeigh Capital Management LLC now owns 355,461 shares of the industrial products company’s stock worth $39,748,000 after purchasing an additional 10,983 shares during the last quarter. Corient Private Wealth LP raised its holdings in Crown by 10.5% during the 2nd quarter. Corient Private Wealth LP now owns 185,288 shares of the industrial products company’s stock valued at $20,719,000 after buying an additional 17,600 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Crown by 57.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 311,135 shares of the industrial products company’s stock valued at $31,192,000 after buying an additional 114,000 shares during the last quarter. Nykredit A S purchased a new stake in Crown during the 2nd quarter valued at $70,709,000. Finally, AIA Group Ltd purchased a new stake in Crown during the 1st quarter valued at $1,752,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About Crown

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.