Crown (NYSE:CCK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, December 28th.
According to Zacks, “Crown Holdings’ performance will be impacted by disruptions from hurricanes, lower consumer spending and ongoing conflicts in the Middle East. Its aerosol can business will face supply chain issues due to lack of industrial gases following the hurricanes. Further, the company's aerosol can sales unit volumes will be hurt by lower consumer spending. In the Middle East, volumes also remain under pressure due to the ongoing conflicts in the region. Moreover, additional restructuring charges and rising competition will hurt Crown Holdings’ results. “
Other equities research analysts have also issued research reports about the stock. KeyCorp restated a “hold” rating on shares of Crown in a research note on Friday, November 10th. ValuEngine lowered shares of Crown from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Vertical Research upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. UBS Group initiated coverage on shares of Crown in a research note on Wednesday, November 29th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, Barclays lifted their price objective on shares of Crown from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Crown presently has a consensus rating of “Hold” and a consensus target price of $64.27.
Shares of Crown (CCK) opened at $57.47 on Thursday. The company has a debt-to-equity ratio of 4.60, a current ratio of 1.04 and a quick ratio of 0.57. Crown has a one year low of $51.76 and a one year high of $62.27. The company has a market cap of $7,720.00, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.42.
Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. Crown had a net margin of 5.64% and a return on equity of 60.44%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business posted $1.33 EPS. Crown’s quarterly revenue was up 6.1% compared to the same quarter last year. equities research analysts forecast that Crown will post 4.03 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Polianta Ltd bought a new position in Crown in the 4th quarter valued at $1,181,000. AXA boosted its holdings in Crown by 10.9% in the 3rd quarter. AXA now owns 163,200 shares of the industrial products company’s stock valued at $9,746,000 after purchasing an additional 16,000 shares during the period. GSA Capital Partners LLP bought a new position in Crown in the 3rd quarter valued at $731,000. IFM Investors Pty Ltd bought a new position in Crown in the 3rd quarter valued at $365,000. Finally, Neuberger Berman Group LLC boosted its holdings in Crown by 17.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,078,991 shares of the industrial products company’s stock valued at $124,157,000 after purchasing an additional 302,595 shares during the period. Institutional investors and hedge funds own 89.97% of the company’s stock.
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Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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