RBC Capital Initiates Coverage on Crown Holdings to Outperform

RBC Capital Initiates Coverage on Crown Holdings(NYSE:CCK). The shares have been rated Outperform. The rating by RBC Capital was issued on Sep 30, 2016.

In a different note, On Sep 27, 2016, BMO Capital said it Upgrades its rating on Crown Holdings. The shares have been rated ‘Outperform’ by the firm. On Jul 25, 2016, Barclays said it Maintains its rating on Crown Holdings. In the research note, the firm Raises the price-target to $62.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 14, 2016, Jefferies said it Maintains its rating on Crown Holdings. In the research note, the firm Raises the price-target to $62.00 per share. The shares have been rated ‘Buy’ by the firm.

Crown Holdings (CCK) shares turned negative on Tuesdays trading session with the shares closing down -0.99 points or -1.75% at a volume of 9,12,917. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $56.94. The peak price level was also seen at $56.94 while the days lowest was $55.6. Finally the shares closed at $55.73. The 52-week high of the shares is $57.46 while the 52-week low is $43.3. According to the latest information available, the market cap of the company is $7,784 M.

Crown Holdings(CCK) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.14B. Analysts had an estimated revenue of $2.24B. Earnings per share were $1.19. Analysts had estimated an EPS of $1.11.

Several Insider Transactions has been reported to the SEC. On May 27, 2016, Robert H Jr Bourque (President – Asia Pacific Div.) sold 715 shares at $52.41 per share price.Also, On May 19, 2016, David A. Beaver (VP and Corporate Controller) sold 1,000 shares at $53.31 per share price.On May 16, 2016, Jozef Salaerts (Former Pres – Asia Pacific Div) sold 1,500 shares at $54.61 per share price, according to the Form-4 filing with the securities and exchange commission.

Crown Holdings Inc. is engaged in 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. Within the Americas Division the Company operates Americas Beverage and North America Food. Within the European Division the Company operates European Beverage and European Food. The Company’s Asia Pacific Division consists of beverage can operations and also includes the Company’s non-beverage can operations such as food cans and specialty packaging. The Company also operates European aerosol and specialty packaging business its North American aerosol can business and its tooling and equipment operations in the United States and United Kingdom. The Company’s products include steel and aluminum cans for food beverage household and other consumer products and metal vacuum closures and caps.

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