Crown (NYSE:CCK) Price Target Increased to $105.00 by Analysts at Wells Fargo & Company

25 Oct 2024, 04:51 by Teresa Graham · The Cerbat Gem

Crown (NYSE:CCK – Free Report) had its price objective upped by Wells Fargo & Company from $97.00 to $105.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other brokerages have also weighed in on CCK. Robert W. Baird increased their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays lifted their target price on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial upped their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Crown in a research note on Tuesday, September 24th. Finally, UBS Group decreased their target price on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.62.

Read Our Latest Stock Analysis on Crown

Crown Stock Down 0.7 %

CCK stock opened at $95.24 on Monday. The firm has a market cap of $11.50 billion, a PE ratio of 27.45, a PEG ratio of 2.19 and a beta of 0.86. Crown has a one year low of $69.61 and a one year high of $98.46. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The firm’s 50 day moving average price is $92.40 and its 200-day moving average price is $84.87.

Crown (NYSE:CCK – Get Free Report) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 EPS. On average, equities research analysts anticipate that Crown will post 6.15 EPS for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.05%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Activity

In related news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,506 shares of company stock worth $3,075,799. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown

Several institutional investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in Crown in the first quarter valued at $32,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Crown in the 1st quarter valued at about $43,000. State of Michigan Retirement System boosted its position in shares of Crown by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 29,400 shares of the industrial products company’s stock valued at $2,330,000 after purchasing an additional 500 shares during the period. Principal Financial Group Inc. grew its stake in Crown by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 449,670 shares of the industrial products company’s stock worth $35,641,000 after buying an additional 7,651 shares during the last quarter. Finally, TFC Financial Management Inc. increased its position in Crown by 50.5% during the first quarter. TFC Financial Management Inc. now owns 1,385 shares of the industrial products company’s stock worth $110,000 after buying an additional 465 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Company Profile

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