Crown Holdings, Inc. (CCK) Given a $60.00 Price Target at Credit Suisse Group

Crown Holdings, Inc. (NYSE:CCK) has been given a $60.00 target price by Credit Suisse Group in a research note issued on Thursday. The firm presently has a “hold” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 13.14% from the stock’s current price.

CCK has been the subject of several other reports. Jefferies Group LLC reissued a “buy” rating and set a $63.00 target price (down from $64.00) on shares of Crown Holdings in a research report on Monday, October 24th. Zacks Investment Research downgraded shares of Crown Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Vertical Research raised shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, February 6th. Finally, Barclays PLC decreased their target price on shares of Crown Holdings from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Crown Holdings currently has an average rating of “Buy” and a consensus price target of $61.00.

Analyst Recommendations for Crown Holdings (NYSE:CCK)

Crown Holdings (NYSE:CCK) traded down 0.481% on Thursday, reaching $52.775. 705,580 shares of the company’s stock traded hands. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 14.824 and a beta of 1.35. The company’s 50 day moving average is $53.60 and its 200-day moving average is $54.04. Crown Holdings has a 52-week low of $44.93 and a 52-week high of $57.49.

Crown Holdings (NYSE:CCK) last posted its earnings results on Thursday, February 2nd. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The company earned $1.92 billion during the quarter, compared to the consensus estimate of $1.98 billion. Crown Holdings had a net margin of 5.99% and a return on equity of 83.94%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities analysts expect that Crown Holdings will post $3.93 EPS for the current year.

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In related news, insider Thomas A. Kelly sold 40,000 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $53.18, for a total transaction of $2,127,200.00. Following the transaction, the insider now directly owns 115,256 shares in the company, valued at $6,129,314.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCK. Acrospire Investment Management LLC boosted its position in Crown Holdings by 28.6% in the third quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $103,000 after buying an additional 400 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Crown Holdings by 10.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,970 shares of the company’s stock valued at $105,000 after buying an additional 191 shares during the period. Massmutual Trust Co. FSB ADV purchased a new position in Crown Holdings during the fourth quarter valued at $112,000. Fuller & Thaler Asset Management Inc. boosted its position in Crown Holdings by 109.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,300 shares of the company’s stock valued at $131,000 after buying an additional 1,200 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Crown Holdings by 16.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,356 shares of the company’s stock valued at $192,000 after buying an additional 480 shares during the period. Institutional investors and hedge funds own 90.76% 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.

5 Day Chart for NYSE:CCK

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