Shares of Crown Holdings, Inc. (NYSE:CCK) have been given an average recommendation of “Buy” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $79.09.
Several research firms recently commented on CCK. Wells Fargo & Co decreased their price objective on shares of Crown from $87.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Goldman Sachs Group raised shares of Crown from a “neutral” rating to a “buy” rating and cut their target price for the company from $78.00 to $61.00 in a research note on Monday, March 23rd. Morgan Stanley cut their target price on shares of Crown from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating and set a $70.00 target price for the company. in a research note on Friday, May 29th. Finally, Deutsche Bank cut their target price on shares of Crown from $84.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, April 16th.
Shares of Crown stock traded up $0.77 on Friday, hitting $63.70. The company’s stock had a trading volume of 2,486,806 shares, compared to its average volume of 1,036,446. Crown has a 52-week low of $42.97 and a 52-week high of $80.57. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 4.28. The firm has a fifty day moving average price of $64.51 and a 200-day moving average price of $67.28. The company has a market capitalization of $8.58 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.26.
Crown declared that its board has approved a share buyback plan on Tuesday, March 10th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Crown by 14.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,456,034 shares of the industrial products company’s stock valued at $432,748,000 after acquiring an additional 935,962 shares during the last quarter. FMR LLC grew its holdings in shares of Crown by 2.0% during the 4th quarter. FMR LLC now owns 7,111,148 shares of the industrial products company’s stock worth $515,842,000 after purchasing an additional 142,012 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Crown by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 7,102,066 shares of the industrial products company’s stock worth $412,204,000 after purchasing an additional 204,163 shares during the period. Lyrical Asset Management LP boosted its holdings in Crown by 0.5% in the 4th quarter. Lyrical Asset Management LP now owns 4,767,161 shares of the industrial products company’s stock worth $345,810,000 after acquiring an additional 23,547 shares during the period. Finally, Maverick Capital Ltd. boosted its holdings in Crown by 23.2% in the 1st quarter. Maverick Capital Ltd. now owns 3,486,509 shares of the industrial products company’s stock worth $202,357,000 after acquiring an additional 656,156 shares during the period. 89.83% of the stock is owned by institutional investors.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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