Royal Bank Of Canada initiated coverage on shares of Crown Holdings Inc. (NYSE:CCK) in a research report released on Friday morning. The brokerage issued an outperform rating and a $65.00 price objective on the stock.
Several other research firms also recently commented on CCK. Deutsche Bank AG set a $55.00 price target on shares of Crown Holdings and gave the company a hold rating in a research report on Sunday, July 24th. Zacks Investment Research downgraded shares of Crown Holdings from a buy rating to a hold rating in a research report on Monday, June 27th. BMO Capital Markets upgraded shares of Crown Holdings from a market perform rating to an outperform rating and upped their price target for the company from $56.00 to $65.00 in a research report on Monday, September 26th. They noted that the move was a valuation call. Credit Suisse Group AG set a $58.00 price target on shares of Crown Holdings and gave the company a hold rating in a research report on Tuesday, July 19th. Finally, Barclays PLC upped their price target on shares of Crown Holdings from $62.00 to $64.00 and gave the company an overweight rating in a research report on Monday, July 25th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $60.38.
Crown Holdings (NYSE:CCK) opened at 56.03 on Friday. The stock has a market capitalization of $7.76 billion, a P/E ratio of 17.19 and a beta of 1.32. The firm’s 50-day moving average is $54.70 and its 200 day moving average is $52.79. Crown Holdings has a 12-month low of $43.30 and a 12-month high of $57.46.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The business earned $2.14 billion during the quarter, compared to the consensus estimate of $2.24 billion. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities analysts expect that Crown Holdings will post $3.93 EPS for the current year.
Several institutional investors have recently bought and sold shares of CCK. Norges Bank bought a new position in Crown Holdings during the fourth quarter worth $52,762,000. Glenmede Trust Co. NA boosted its position in Crown Holdings by 555.7% in the first quarter. Glenmede Trust Co. NA now owns 92,103 shares of the company’s stock worth $4,566,000 after buying an additional 78,056 shares during the period. Virginia Retirement System bought a new position in Crown Holdings during the first quarter worth $985,000. Ngam Advisors L.P. boosted its position in Crown Holdings by 2.7% in the first quarter. Ngam Advisors L.P. now owns 122,063 shares of the company’s stock worth $6,053,000 after buying an additional 3,165 shares during the period. Finally, Teachers Advisors Inc. boosted its position in Crown Holdings by 9.1% in the first quarter. Teachers Advisors Inc. now owns 697,705 shares of the company’s stock worth $34,599,000 after buying an additional 58,442 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.
About Crown Holdings
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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