Crown (NYSE:CCK) Price Target Raised to $115.00 at Royal Bank of Canada

Crown (NYSE:CCK) had its price target hoisted by analysts at Royal Bank of Canada from $113.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 32.24% from the stock’s current price.

Several other equities research analysts have also issued reports on CCK. Wells Fargo & Company upped their price target on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Robert W. Baird raised their price target on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Barclays raised their target price on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Crown Stock Down 0.4 %

Crown stock traded down $0.39 during trading on Friday, reaching $86.97. 526,539 shares of the company’s stock were exchanged, compared to its average volume of 1,408,323. The company’s 50-day moving average is $85.66 and its two-hundred day moving average is $89.23. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 107.36, a PEG ratio of 1.70 and a beta of 0.87. Crown has a 52-week low of $70.84 and a 52-week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, analysts predict that Crown will post 6.35 earnings per share for the current year.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in shares of Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the period. Metropolis Capital Ltd lifted its position in Crown by 269.7% during the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after purchasing an additional 1,062,001 shares during the period. Jennison Associates LLC grew its stake in Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after buying an additional 751,530 shares in the last quarter. FMR LLC raised its position in shares of Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after buying an additional 749,085 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Crown by 379.3% during the 4th quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock worth $56,870,000 after acquiring an additional 544,246 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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.