Crown (NYSE:CCK) Given New $115.00 Price Target at Royal Bank of Canada

Crown (NYSE:CCK) had its price target upped by Royal Bank of Canada from $113.00 to $115.00 in a research note released on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on CCK. Mizuho cut their target price on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Bank of America cut their price objective on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial upped their target price on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Citigroup lifted their price target 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. Finally, StockNews.com downgraded shares of Crown from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.92.

Crown Trading Down 0.4 %

Shares of NYSE CCK opened at $87.01 on Friday. The business has a 50 day simple moving average of $85.55 and a 200 day simple moving average of $89.21. Crown has a 52 week low of $70.84 and a 52 week high of $98.46. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 107.42, a PEG ratio of 1.70 and a beta of 0.87. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, research analysts predict that Crown will post 6.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCK. HighTower Advisors LLC raised its holdings in Crown by 12.1% in the 4th quarter. HighTower Advisors LLC now owns 11,698 shares of the industrial products company’s stock valued at $967,000 after acquiring an additional 1,266 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Crown by 2.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company’s stock valued at $775,000 after purchasing an additional 200 shares during the period. AlphaQuest LLC raised its stake in shares of Crown by 257.3% in the fourth quarter. AlphaQuest LLC now owns 34,277 shares of the industrial products company’s stock valued at $2,834,000 after purchasing an additional 24,684 shares in the last quarter. OFI Invest Asset Management bought a new position in Crown in the fourth quarter worth $1,219,000. Finally, Amundi lifted its position in Crown by 67.2% in the fourth quarter. Amundi now owns 818,361 shares of the industrial products company’s stock worth $65,637,000 after purchasing an additional 328,825 shares during the period. Institutional investors and hedge funds 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.