Jefferies Keeps a Buy Rating on Crown Holdings (CCK)

In a report issued on January 7, Philip Ng from Jefferies maintained a Buy rating on Crown Holdings (CCKResearch Report), with a price target of $138.00. The company’s shares closed last Friday at $109.54.

According to TipRanks.com, Ng is a top 100 analyst with an average return of 15.2% and a 74.8% success rate. Ng covers the Basic Materials sector, focusing on stocks such as Martin Marietta Materials, International Paper Co, and Berry Global Group.

Crown Holdings has an analyst consensus of Strong Buy, with a price target consensus of $129.71, which is a 17.5% upside from current levels. In a report issued on December 30, Robert W. Baird also maintained a Buy rating on the stock with a $125.00 price target.

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Based on Crown Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.92 billion and net profit of $102 million. In comparison, last year the company earned revenue of $2.49 billion and had a net profit of $214 million.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCK in relation to earlier this year.

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Crown Holdings, Inc. engages in the design, manufacture and sale of packaging products for consumer goods. Its products include Beverage Cans and Glass Bottles, Food Cans and Closures, Transit Packaging and Aerosol Cans. The firm operates through the following geographical divisions: Americas, European, and Asia-Pacific. The Americas division includes operations in the U.S., Brazil, Canada, the Caribbean, Colombia and Mexico. The European division refers to the operations in Europe, the Middle East and Africa. The Asia-Pacific division is a reportable segment which primarily consists of beverage can operations in Cambodia, China, Indonesia, Malaysia, Singapore, Thailand and Vietnam and also includes the Company’s non-beverage can operations, primarily food cans and specialty packaging in China, Singapore, Thailand and Vietnam. The company was founded by William Painter in 1892 and is headquartered in Philadelphia, PA.

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