StockNews.com Downgrades Crown (NYSE:CCK) to Hold

StockNews.com downgraded shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other analysts have also issued reports about the company. Royal Bank of Canada lifted their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group dropped their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho reduced their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on shares of Crown from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America cut their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.46.

Crown Stock Up 0.8 %

CCK opened at $88.58 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown has a twelve month low of $69.61 and a twelve month high of $98.46. The company has a market cap of $10.60 billion, a PE ratio of 109.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.86. The company has a 50-day moving average price of $86.16 and a 200 day moving average price of $88.89.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Crown

A number of institutional investors and hedge funds have recently made changes to their positions in CCK. Strategic Financial Concepts LLC purchased a new stake in Crown in the fourth quarter valued at approximately $1,176,000. Rhumbline Advisers raised its holdings in shares of Crown by 1.3% in the 4th quarter. Rhumbline Advisers now owns 343,860 shares of the industrial products company’s stock valued at $28,434,000 after buying an additional 4,374 shares during the period. Banque Pictet & Cie SA acquired a new position in Crown during the 4th quarter worth about $248,000. Vontobel Holding Ltd. boosted its holdings in Crown by 9.5% during the 4th quarter. Vontobel Holding Ltd. now owns 22,833 shares of the industrial products company’s stock valued at $1,888,000 after acquiring an additional 1,988 shares during the period. Finally, Van ECK Associates Corp purchased a new stake in Crown during the fourth quarter worth about $2,607,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

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.