Analysts at RBC Capital Markets assumed coverage on shares of Crown Holdings Inc. (NYSE:CCK) in a research report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
A number of other equities analysts have also issued reports on the stock. BMO Capital Markets upgraded shares of Crown Holdings from a “market perform” rating to an “outperform” rating and increased their target price for the company from $56.00 to $65.00 in a research report on Monday. They noted that the move was a valuation call. Deutsche Bank AG set a $55.00 price objective on shares of Crown Holdings and gave the company a “hold” rating in a research report on Sunday, July 24th. Barclays PLC raised their price objective on shares of Crown Holdings from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Crown Holdings from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Credit Suisse Group AG set a $58.00 price objective on shares of Crown Holdings and gave the company a “hold” rating in a research report on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.55.
Crown Holdings (NYSE:CCK) traded down 0.04% during midday trading on Thursday, reaching $56.68. 1,126,118 shares of the company were exchanged. Crown Holdings has a 52-week low of $43.30 and a 52-week high of $57.06. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 17.39 and a beta of 1.38. The firm’s 50-day moving average price is $54.36 and its 200 day moving average price is $52.51.
Crown Holdings (NYSE:CCK) last announced its earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. The firm earned $2.14 billion during the quarter, compared to analyst estimates of $2.24 billion. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. Crown Holdings’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Equities analysts predict that Crown Holdings will post $3.93 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. bought a new stake in Crown Holdings during the second quarter worth about $139,000. Tower Research Capital LLC TRC bought a new stake in Crown Holdings during the second quarter worth about $146,000. Point72 Asia Hong Kong Ltd raised its stake in Crown Holdings by 89.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,917 shares of the company’s stock worth $148,000 after buying an additional 1,381 shares during the period. First Manhattan Co. raised its stake in Crown Holdings by 2.9% in the second quarter. First Manhattan Co. now owns 3,089 shares of the company’s stock worth $156,000 after buying an additional 88 shares during the period. Finally, Fulton Bank N.A. bought a new stake in Crown Holdings during the second quarter worth about $213,000. 88.81% of the stock is owned by institutional investors and hedge funds.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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