BMO Capital Markets upgraded shares of Crown Holdings Inc. (NYSE:CCK) from a market perform rating to an outperform rating in a research report released on Monday morning. The analysts noted that the move was a valuation call.
CCK has been the topic of several other research reports. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $60.00 price objective on shares of Crown Holdings in a report on Wednesday, June 1st. Jefferies Group upped their price objective on Crown Holdings from $62.00 to $63.00 and gave the stock a buy rating in a report on Thursday, July 14th. Zacks Investment Research downgraded Crown Holdings from a buy rating to a hold rating in a research note on Monday, June 27th. Credit Suisse Group AG set a $58.00 price target on Crown Holdings and gave the company a hold rating in a research note on Tuesday, July 19th. Finally, Barclays PLC increased their price target on Crown Holdings from $62.00 to $64.00 and gave the company an overweight rating in a research note on Monday, July 25th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Crown Holdings has an average rating of Buy and a consensus price target of $59.00.
Shares of Crown Holdings (NYSE:CCK) opened at 53.90 on Monday. The firm has a market cap of $7.47 billion, a PE ratio of 16.53 and a beta of 1.38. Crown Holdings has a 52-week low of $43.30 and a 52-week high of $56.79. The company’s 50-day moving average price is $54.22 and its 200-day moving average price is $52.43.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts expect that Crown Holdings will post $3.93 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Crown Holdings by 12.8% in the second quarter. Macquarie Group Ltd. now owns 82,311 shares of the company’s stock worth $4,170,000 after buying an additional 9,333 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Crown Holdings by 1,308.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 114,224 shares of the company’s stock worth $5,789,000 after buying an additional 106,112 shares during the period. Royal Bank of Canada boosted its position in Crown Holdings by 5.0% in the second quarter. Royal Bank of Canada now owns 324,288 shares of the company’s stock worth $16,431,000 after buying an additional 15,299 shares during the period. Public Employees Retirement System of Ohio boosted its position in Crown Holdings by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 53,380 shares of the company’s stock worth $2,705,000 after buying an additional 816 shares during the period. Finally, Calvert Investment Management Inc. boosted its position in Crown Holdings by 35.1% in the second quarter. Calvert Investment Management Inc. now owns 18,583 shares of the company’s stock worth $942,000 after buying an additional 4,827 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Crown Holdings Company Profile
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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