Morgan Stanley Sticks to Their Buy Rating for Crown Holdings (CCK)

Morgan Stanley analyst Angel Castillo maintained a Buy rating on Crown Holdings (CCKResearch Report) today and set a price target of $130.00. The company’s shares closed last Monday at $95.65.

According to TipRanks.com, Castillo has 0 stars on 0-5 stars ranking scale with an average return of -34.5% and a 33.3% success rate. Castillo covers the Basic Materials sector, focusing on stocks such as Ardagh Metal Packaging, Berry Global Group, and Trinseo.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crown Holdings with a $124.62 average price target, which is a 31.3% upside from current levels. In a report issued on July 11, Jefferies also maintained a Buy rating on the stock with a $130.00 price target.

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Based on Crown Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.51 billion and net profit of $295 million. In comparison, last year the company earned revenue of $2.86 billion and had a net profit of $128 million.

Based on the recent corporate insider activity of 80 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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