Crown (NYSE:CCK) Earns “Outperform” Rating from Robert W. Baird

Robert W. Baird reissued their outperform rating on shares of Crown (NYSE:CCK) in a research report report published on Friday morning, The Fly reports. Robert W. Baird currently has a $75.00 target price on the industrial products company’s stock, up from their prior target price of $65.00. The analysts noted that the move was a valuation call.

Several other equities analysts have also issued reports on the stock. Citigroup set a $75.00 target price on shares of Crown and gave the company a buy rating in a report on Tuesday, September 10th. Zacks Investment Research upgraded shares of Crown from a sell rating to a hold rating and set a $67.00 target price for the company in a report on Tuesday, September 10th. Finally, ValuEngine upgraded shares of Crown from a hold rating to a buy rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $65.67.

CCK stock opened at $62.97 on Friday. The firm has a 50 day moving average price of $65.15 and a 200-day moving average price of $60.11. Crown has a 52-week low of $39.05 and a 52-week high of $68.84. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.78 and a beta of 1.57. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.66 and a current ratio of 1.17.

Crown (NYSE:CCK) last released its earnings results on Wednesday, July 17th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.03). Crown had a net margin of 3.91% and a return on equity of 48.36%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Crown’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Crown will post 5.09 earnings per share for the current fiscal year.

In related news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total value of $679,200.00. Following the completion of the transaction, the chief operating officer now directly owns 152,292 shares in the company, valued at approximately $10,343,672.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CCK. HM Payson & Co. bought a new stake in shares of Crown during the 2nd quarter valued at $31,000. Advisory Services Network LLC bought a new position in Crown in the 1st quarter worth about $32,000. Oakworth Capital Inc. bought a new position in Crown in the 2nd quarter worth about $42,000. Rockefeller Capital Management L.P. grew its stake in Crown by 53.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 691 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 240 shares in the last quarter. Finally, First Personal Financial Services grew its stake in Crown by 73.7% in the 2nd quarter. First Personal Financial Services now owns 1,002 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 96.17% of the company’s stock.

About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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The Fly

Analyst Recommendations for Crown (NYSE:CCK)

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