Crown (NYSE:CCK) Upgraded to Outperform by Robert W. Baird

Robert W. Baird upgraded shares of Crown (NYSE:CCK) from a neutral rating to an outperform rating in a report released on Tuesday morning, Marketbeat reports. Robert W. Baird currently has $90.00 target price on the industrial products company’s stock, up from their previous target price of $85.00.

A number of other research analysts have also weighed in on the stock. Wolfe Research assumed coverage on shares of Crown in a research note on Friday, March 1st. They issued an outperform rating and a $102.00 price objective for the company. JPMorgan Chase & Co. raised shares of Crown from a neutral rating to an overweight rating and set a $85.00 price target for the company in a report on Wednesday, February 7th. UBS Group initiated coverage on shares of Crown in a report on Tuesday, January 16th. They issued a buy rating and a $112.00 price target for the company. Mizuho cut their price target on shares of Crown from $105.00 to $96.00 and set a buy rating for the company in a report on Tuesday, February 6th. Finally, Royal Bank of Canada cut their price target on shares of Crown from $110.00 to $97.00 and set an outperform rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Crown has a consensus rating of Moderate Buy and an average target price of $99.21.

Crown Trading Up 0.9 %

Shares of CCK stock opened at $77.64 on Tuesday. The company has a 50 day moving average of $76.82 and a 200-day moving average of $82.81. 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 12-month low of $69.61 and a 12-month high of $96.35. The firm has a market cap of $9.38 billion, a P/E ratio of 20.65, a PEG ratio of 2.59 and a beta of 0.91.

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

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.25 per share. This is an increase from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, March 13th. Crown’s payout ratio is currently 26.60%.

Hedge Funds Weigh In On Crown

Large investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC purchased a new position in Crown in the 3rd quarter worth $25,000. Sound Income Strategies LLC purchased a new position in Crown in the 4th quarter worth $26,000. Rise Advisors LLC purchased a new position in Crown in the 1st quarter worth $27,000. Quest Partners LLC purchased a new position in Crown in the 4th quarter worth $34,000. Finally, Mather Group LLC. purchased a new position in Crown in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About Crown

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.