KeyBanc Remains a Hold on Crown Holdings (CCK)
KeyBanc analyst Adam Josephson maintained a Hold rating on Crown Holdings (CCK) today. The company’s shares opened today at $56.91.
“We were low on the Street for 2020 heading into Crown Holdings’ (CCK) 2Q19 earnings, and we are further reducing that estimate following the Company’s disappointing quarter and 2019 guidance. The Company continues to experience declining organic the extent the story is about de-leveraging, the de-leveraging process will take that much longer to play out following CCK’s cash flow guidance reduction. CCK’s European Food segment remains problematic, and its Transit Packaging segment is dealing with increasingly difficult conditions.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.8% and a 63.8% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crown Holdings with a $68.40 average price target.
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The company has a one-year high of $63.39 and a one-year low of $39.05. Currently, Crown Holdings has an average volume of 1.24M.
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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.