Jefferies Believes CCK Still Has Room to Grow

According to The Fly, in a report released yesterday, Philip Ng from Jefferies reiterated a Buy rating on Crown Holdings (NYSE: CCK). The company’s shares closed yesterday at $54.08, close to its 52-week high of $55.50.

According to TipRanks.com, Ng is a top 100 analyst with an average return of 14.6% and a 79.3% success rate. Ng covers the Consumer Goods sector, focusing on stocks such as Orchids Paper Products Company, Graphic Packaging, and Sonoco Products.

Currently, the analyst consensus on Crown Holdings is Moderate Buy and the average price target is $59.25, representing a 9.6% upside.

In a report issued on July 21, J.P. Morgan also reiterated a Buy rating on the stock with a $61 price target.

The company has a one year high of $55.50 and a one year low of $43.30. Currently, Crown Holdings has an average volume of 988.8k.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is neutral on the stock.

Crown Holdings, Inc. is engaged in designing, manufacturing and sales of packaging products for consumer goods. The company’s primary products include steel and aluminum cans for food, beverage, household and other consumer products and metal vacuum closures and caps. These products are manufactured in its plants both within and outside the U. S. and are sold through the company’s sales organization to the soft drink, food, citrus, brewing, household products, personal care and various other industries. The company operates through three operating divisions: Americas, European and Asia-Pacific. The Americas division operates through two reportable segments: Americas Beverage and North America Food. The Americas Beverage segment manufactures aluminum beverage cans and ends and steel crowns, commonly referred to as bottle caps. The North America Food segment manufactures steel and aluminum food cans and ends and metal vacuum closures. The European division operates through three reportable segments: European Beverage, European Food and European Specialty Packaging. The European Beverage segment manufactures steel and aluminum beverage cans and ends. The European Food segment manufactures steel and aluminum food cans and ends, and metal vacuum closures. The European Specialty Packaging segment manufactures a wide variety of specialty containers, with numerous lid and closure variations. The Asia-Pacific division includes aerosol can business in Thailand, beverage can businesses in Cambodia, China, Malaysia, Singapore, Thailand and Vietnam and food can and closures business in Thailand. The company was founded by William Painter in 1892 and is headquartered in Philadelphia, PA.