Analysts Set Crown Holdings, Inc. (NYSE:CCK) Price Target at $106.00

Shares of Crown Holdings, Inc. (NYSE:CCK) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $106.00.

A number of research analysts have issued reports on CCK shares. Citigroup boosted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. UBS Group reduced their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho reduced their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price target on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently modified their holdings of CCK. Farther Finance Advisors LLC boosted its position in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after buying an additional 256 shares during the last quarter. Covestor Ltd boosted its position in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown during the third quarter valued at $44,000. GAMMA Investing LLC boosted its position in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after buying an additional 685 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Price Performance

CCK stock opened at $90.13 on Tuesday. Crown has a 12 month low of $70.84 and a 12 month high of $98.46. The firm has a market capitalization of $10.59 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average of $86.91 and a 200-day moving average of $89.53.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, sell-side analysts predict that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.15%. Crown’s dividend payout ratio (DPR) is presently 29.21%.

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.