Wells Fargo & Company Issues Pessimistic Forecast for Crown (NYSE:CCK) Stock Price

Crown (NYSE:CCK) had its price target decreased by Wells Fargo & Company from $88.00 to $86.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.31% from the stock’s current price.

A number of other research firms have also weighed in on CCK. Truist Financial upped their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. StockNews.com lowered shares of Crown from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Bank of America decreased their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup increased their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, UBS Group decreased their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average price target of $105.46.

Crown Trading Up 0.3 %

Shares of CCK traded up $0.27 during trading hours on Thursday, hitting $84.89. 24,668 shares of the stock were exchanged, compared to its average volume of 1,120,943. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. 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 moving average of $87.06 and a 200-day moving average of $87.90. The firm has a market capitalization of $10.16 billion, a P/E ratio of 104.80, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. On average, research analysts expect that Crown will post 6.35 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Crown

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd increased its position in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in shares of Crown in the third quarter valued at about $44,000. Catalyst Capital Advisors LLC purchased a new position in shares of Crown in the third quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown in the third quarter valued at about $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.