Crown (NYSE:CCK) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Crown (NYSE:CCK) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other equities analysts also recently issued reports on CCK. Mizuho dropped their price target on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. UBS Group dropped their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup boosted their price target on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Barclays increased their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.46.

Crown Stock Performance

Shares of Crown stock opened at $88.81 on Tuesday. The stock’s fifty day moving average is $86.25 and its two-hundred day moving average is $88.90. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $10.62 billion, a PE ratio of 109.64, a price-to-earnings-growth ratio of 1.68 and a beta of 0.86. Crown has a 52 week low of $69.61 and a 52 week high of $98.46.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Crown

Institutional investors and hedge funds have recently bought and sold shares of the business. MBB Public Markets I LLC purchased a new position in shares of Crown during the 2nd quarter worth approximately $641,000. Millennium Management LLC raised its position in Crown by 166.6% in the second quarter. Millennium Management LLC now owns 509,909 shares of the industrial products company’s stock worth $37,932,000 after acquiring an additional 318,617 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Crown by 19.1% in the second quarter. Mackenzie Financial Corp now owns 4,807 shares of the industrial products company’s stock valued at $358,000 after acquiring an additional 770 shares during the period. Creative Planning boosted its position in shares of Crown by 4.2% during the 2nd quarter. Creative Planning now owns 44,249 shares of the industrial products company’s stock worth $3,292,000 after purchasing an additional 1,797 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Crown by 21.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,273 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 577 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.