Crown (NYSE:CCK) Price Target Raised to $83.00 at Royal Bank of Canada

Crown (NYSE:CCK) had its target price increased by Royal Bank of Canada from $79.00 to $83.00 in a report published on Monday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

CCK has been the topic of several other reports. Deutsche Bank lifted their price target on shares of Crown from $65.00 to $75.00 and gave the stock a buy rating in a research note on Friday. They noted that the move was a valuation call. Wells Fargo & Co raised their price objective on shares of Crown from $70.00 to $75.00 and gave the stock an outperform rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Crown from $68.00 to $75.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. Robert W. Baird reissued an outperform rating and set a $75.00 price objective (up from $65.00) on shares of Crown in a research report on Friday, September 20th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price objective on shares of Crown from $56.00 to $72.00 and gave the stock an equal weight rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $72.00.

NYSE:CCK traded up $0.20 during midday trading on Monday, hitting $69.68. 628,905 shares of the company were exchanged, compared to its average volume of 1,585,359. The company has a fifty day simple moving average of $64.70 and a 200 day simple moving average of $61.70. Crown has a fifty-two week low of $39.05 and a fifty-two week high of $70.88. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 3.98. The company has a market capitalization of $9.47 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.99 and a beta of 1.55.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $1.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.01). Crown had a return on equity of 41.91% and a net margin of 4.10%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business earned $1.71 earnings per share. Crown’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Crown will post 5.02 EPS for the current year.

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total transaction of $679,200.00. Following the transaction, the chief operating officer now directly owns 152,292 shares of the company’s stock, valued at approximately $10,343,672.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Brookfield Asset Management Inc. purchased a new stake in shares of Crown in the second quarter valued at about $5,264,000. Cibc World Markets Corp purchased a new stake in shares of Crown in the second quarter valued at about $706,000. Advisor Group Inc. boosted its holdings in shares of Crown by 7.3% in the second quarter. Advisor Group Inc. now owns 3,759 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 257 shares in the last quarter. Elkfork Partners LLC boosted its holdings in shares of Crown by 80.8% in the second quarter. Elkfork Partners LLC now owns 32,956 shares of the industrial products company’s stock valued at $2,014,000 after acquiring an additional 14,728 shares in the last quarter. Finally, Andra AP fonden boosted its holdings in shares of Crown by 16.2% in the second quarter. Andra AP fonden now owns 80,500 shares of the industrial products company’s stock valued at $4,919,000 after acquiring an additional 11,200 shares in the last quarter. 96.27% of the stock is currently owned by institutional investors and hedge funds.

Crown Company Profile

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.

Featured Story: How to trade on quiet period expirations

The Fly

Analyst Recommendations for Crown (NYSE:CCK)

Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.