Crown Holdings Receives a Hold from Wells Fargo

Wells Fargo analyst Christopher Manuel downgraded Crown Holdings (NYSE: CCK) to Hold today. The company’s shares closed yesterday at $52.96.

Crown Holdings has an analyst consensus of Moderate Buy, with an average price target of $61.

Based on Crown Holdings` latest earnings report from September 30, the company posted quarterly revenue of $2.46B and quarterly net profit of $141M. In comparison, last year the company earned revenue of $2.59B and had a net profit of $244M.

Like Wells Fargo`s latest rating, based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is neutral on the stock. Last month, David Beaver, a the VP & Corp. Contr of CCK sold 1,000 shares for a total of $52,880.

According to TipRanks.com, Manuel is a 3-star analyst with an average return of 5.3% and a 70.0% success rate. Manuel covers the consumer goods sector, focusing on stocks such as Packaging Corp, Berry Plastics, and Sealed Air.

Crown Holdings Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s primary products include steel & aluminum cans for food, beverage, household and other consumer products and metal vacuum closures.