Robert W. Baird Upgrades Crown (NYSE:CCK) to “Outperform”

Crown (NYSE:CCK) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a $90.00 price objective on the industrial products company’s stock, up from their prior price objective of $85.00. Robert W. Baird’s price objective points to a potential upside of 18.11% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company decreased their price target on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Truist Financial restated a “hold” rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Royal Bank of Canada cut their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Wolfe Research assumed coverage on Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price target for the company. Finally, Mizuho dropped their price target on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Crown Trading Down 1.4 %

Crown stock opened at $76.20 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. Crown has a 52 week low of $69.61 and a 52 week high of $96.35. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.61 and a beta of 0.91. The stock has a 50-day moving average price of $76.67 and a 200 day moving average price of $83.05.

Crown (NYSE:CCK) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Crown will post 5.91 EPS for the current year.

Hedge Funds Weigh In On Crown

Several large investors have recently modified their holdings of the business. Steph & Co. lifted its stake in shares of Crown by 32.9% in the 1st quarter. Steph & Co. now owns 4,177 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 1,033 shares during the last quarter. MJP Associates Inc. ADV acquired a new position in shares of Crown in the 1st quarter valued at $868,000. Gulf International Bank UK Ltd lifted its stake in shares of Crown by 13.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 25,612 shares of the industrial products company’s stock valued at $2,030,000 after purchasing an additional 3,036 shares during the last quarter. Perpetual Ltd lifted its stake in shares of Crown by 10.4% in the 1st quarter. Perpetual Ltd now owns 77,339 shares of the industrial products company’s stock valued at $6,130,000 after purchasing an additional 7,288 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of Crown in the 1st quarter valued at $27,000. Institutional investors and hedge funds 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.