The stock of Crown Holdings, Inc. (NYSE:CCK) hit a new 52-week high and has $89.70 target or 60.00% above today’s $56.06 share price. The 6 months bullish chart indicates low risk for the $7.85B company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $89.70 price target is reached, the company will be worth $4.71 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 323,633 shares traded hands. Crown Holdings, Inc. (NYSE:CCK) has risen 15.86% since March 15, 2016 and is uptrending. It has outperformed by 10.37% the S&P500.
Crown Holdings, Inc. (NYSE:CCK) Ratings Coverage
Out of 10 analysts covering Crown Holdings (NYSE:CCK), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $65 is the highest target while $55 is the lowest. The $60 average target is 7.03% above today’s ($56.06) stock price. Crown Holdings has been the topic of 18 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, July 14 by Jefferies. The stock has “Outperform” rating given by Macquarie Research on Tuesday, November 10. Macquarie Research maintained the shares of CCK in a report on Friday, February 5 with “Outperform” rating. The rating was downgraded by Vertical Research on Monday, April 25 to “Hold”. The firm has “Buy” rating given on Wednesday, July 22 by TheStreet. The stock of Crown Holdings, Inc. (NYSE:CCK) earned “Neutral” rating by Goldman Sachs on Thursday, May 12. The company was upgraded on Friday, February 19 by Bank of America. The firm has “Outperform” rating given on Friday, September 30 by RBC Capital Markets. The rating was downgraded by Bank of America on Tuesday, September 15 to “Neutral”. Credit Suisse maintained the shares of CCK in a report on Tuesday, April 19 with “Neutral” rating.
According to Zacks Investment Research, “Crown Cork & Seal is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.”
Insitutional Activity: The institutional sentiment increased to 1.08 in Q2 2016. Its up 0.12, from 0.96 in 2016Q1. The ratio is positive, as 29 funds sold all Crown Holdings, Inc. shares owned while 112 reduced positions. 35 funds bought stakes while 117 increased positions. They now own 123.11 million shares or 0.50% more from 122.50 million shares in 2016Q1.
Moreover, Federated Investors Pa has 0.02% invested in Crown Holdings, Inc. (NYSE:CCK) for 116,214 shares. Pitcairn Company reported 10,083 shares or 0.07% of all its holdings. Cantab Capital Ltd Liability Partnership holds 0% or 5,762 shares in its portfolio. Moreover, Kynikos Assoc Lp has 2.08% invested in Crown Holdings, Inc. (NYSE:CCK) for 131,329 shares. Wealthtrust reported 479 shares or 0.01% of all its holdings. Scout Investments accumulated 0.01% or 6,230 shares. Pine River Ltd Partnership holds 0.01% of its portfolio in Crown Holdings, Inc. (NYSE:CCK) for 18,838 shares. Brandywine Invest Llc has 129,152 shares for 0.04% of their US portfolio. Schwab Charles Investment Management accumulated 437,697 shares or 0.03% of the stock. Swiss Bank owns 391,133 shares or 0.03% of their US portfolio. Oxford Asset Mngmt, a United Kingdom-based fund reported 39,149 shares. Comerica Financial Bank accumulated 0.01% or 11,048 shares. Henderson Group Inc Public Limited Liability Corp has 131,324 shares for 0.06% of their US portfolio. Parkside Fincl Savings Bank holds 0% or 8 shares in its portfolio. Primecap Mgmt Company Ca has 0.01% invested in the company for 103,600 shares.
Insider Transactions: Since April 25, 2016, the stock had 0 insider buys, and 6 insider sales for $2.23 million net activity. $159,780 worth of Crown Holdings, Inc. (NYSE:CCK) was sold by LOLIGER HANS J. Shares for $53,310 were sold by Beaver David A.. 1,500 shares with value of $81,915 were sold by Salaerts Jozef on Friday, May 13. On Thursday, May 26 Bourque Robert H Jr sold $37,471 worth of the stock or 715 shares. 15,000 Crown Holdings, Inc. (NYSE:CCK) shares with value of $806,850 were sold by Gifford Gerard H.
Another recent and important Crown Holdings, Inc. (NYSE:CCK) news was published by Prnewswire.com which published an article titled: “Crown Holdings Schedules Third Quarter 2016 Earnings Conference Call” on September 27, 2016.
CCK Company Profile
Crown Holdings, Inc., incorporated on February 7, 2003, 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 divisions within the Americas Division are Americas Beverage and North America Food. The Company’s divisions within the European Division are European Beverage and European Food. The Company’s Asia Pacific Division segment consists of its beverage and non-beverage can operations. The Company’s divisions also include its European aerosol and specialty packaging business, its North American aerosol can business, and its tooling and equipment activities in the Unites States and the United Kingdom. It operates over 150 plants along with sales and service facilities throughout over 40 countries. It also has canmaking and spare part activities in the United States and the United Kingdom.
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