Trade Report: Today, Crown Holdings Inc. (CCK) Given Average Recommendation of “Buy” from Brokerages

Today, Crown Holdings Inc. (CCK) Given Average Recommendation of “Buy” from Brokerages

Shares of Crown Holdings Inc. (NYSE:CCK) have earned an average rating of “Buy” from the thirteen ratings firms that are currently covering the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $61.56.

CCK has been the topic of several analyst reports. Zacks Investment Research cut shares of Crown Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 13th. Deutsche Bank AG set a $58.00 price target on shares of Crown Holdings and gave the stock a “hold” rating in a research note on Tuesday, October 18th. BMO Capital Markets upgraded shares of Crown Holdings from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $56.00 to $65.00 in a research note on Monday, September 26th. They noted that the move was a valuation call. Royal Bank Of Canada initiated coverage on shares of Crown Holdings in a research note on Friday, September 30th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, RBC Capital Markets initiated coverage on shares of Crown Holdings in a research note on Thursday, September 29th. They set an “outperform” rating and a $65.00 price target on the stock.

A number of hedge funds have recently made changes to their positions in CCK. Price T Rowe Associates Inc. MD increased its stake in shares of Crown Holdings by 6.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 46,788 shares of the company’s stock worth $2,671,000 after buying an additional 2,869 shares in the last quarter. Credit Suisse AG increased its stake in Crown Holdings by 1.9% in the third quarter. Credit Suisse AG now owns 679,191 shares of the company’s stock worth $38,776,000 after buying an additional 12,786 shares during the period. Verition Fund Management LLC increased its stake in Crown Holdings by 182.6% in the third quarter. Verition Fund Management LLC now owns 6,998 shares of the company’s stock worth $400,000 after buying an additional 4,522 shares during the period. Dai Ichi Life Holdings Inc. increased its stake in Crown Holdings by 5.6% in the third quarter. Dai Ichi Life Holdings Inc. now owns 13,562 shares of the company’s stock worth $774,000 after buying an additional 718 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Crown Holdings during the third quarter worth $719,000. Institutional investors own 89.22% of the company’s stock.

Crown Holdings (NYSE:CCK) traded up 0.15% on Friday, reaching $54.91. The company had a trading volume of 168,863 shares. The stock’s 50 day moving average price is $54.44 and its 200-day moving average price is $53.60. Crown Holdings has a 12-month low of $43.30 and a 12-month high of $57.49. The stock has a market capitalization of $7.62 billion, a PE ratio of 15.42 and a beta of 1.40.

Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.03. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Crown Holdings had a net margin of 5.93% and a return on equity of 91.21%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. Equities analysts expect that Crown Holdings will post $3.92 earnings per share for the current fiscal year.

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