Crown (NYSE:CCK)‘s stock had its “buy” rating reissued by equities researchers at Credit Suisse Group in a report issued on Friday. They presently have a $57.00 target price on the industrial products company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 18.75% from the stock’s current price.
Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Crown from a “c+” rating to a “b-” rating in a report on Wednesday, October 10th. Citigroup lifted their target price on shares of Crown from $59.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 19th. Bank of America upgraded shares of Crown from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a report on Friday, November 9th. Zacks Investment Research upgraded shares of Crown from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Finally, KeyCorp reiterated a “hold” rating on shares of Crown in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Crown presently has an average rating of “Buy” and an average price target of $60.56.
Shares of CCK stock traded down $0.03 during trading hours on Friday, hitting $48.00. 1,404,930 shares of the company’s stock traded hands, compared to its average volume of 1,974,375. Crown has a 12-month low of $40.09 and a 12-month high of $62.27. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.37 and a beta of 1.47. The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.68 and a current ratio of 1.14.
Crown (NYSE:CCK) last released its earnings results on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. Crown had a net margin of 2.81% and a return on equity of 59.62%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the business earned $1.46 earnings per share. The business’s revenue was up 28.6% on a year-over-year basis. As a group, sell-side analysts forecast that Crown will post 5.2 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCK. Columbia Asset Management purchased a new position in Crown in the 3rd quarter worth approximately $110,000. Tower Research Capital LLC TRC purchased a new position in Crown in the 2nd quarter worth approximately $187,000. Pennsylvania Trust Co purchased a new position in Crown in the 3rd quarter worth approximately $202,000. Oppenheimer Asset Management Inc. purchased a new position in Crown in the 2nd quarter worth approximately $218,000. Finally, Cornerstone Wealth Management LLC purchased a new position in Crown in the 2nd quarter worth approximately $220,000.
Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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