Bank of America Issues Pessimistic Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price target lowered by stock analysts at Bank of America from $107.00 to $101.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target suggests a potential upside of 25.83% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Loop Capital boosted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada upped their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Barclays increased their price target on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Mizuho set a $110.00 price objective on shares of Crown in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average price target of $104.62.

Crown Price Performance

Crown stock opened at $80.27 on Monday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The business has a 50 day simple moving average of $88.54 and a 200-day simple moving average of $87.79. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The stock has a market capitalization of $9.60 billion, a PE ratio of 99.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Equities analysts predict that Crown will post 6.34 earnings per share for the current year.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCK. GAMMA Investing LLC boosted its position in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown during the 3rd quarter valued at $44,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown during the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown in the 3rd quarter worth $55,000. 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.