Crown Crafts, Inc. (CRWS) Downgraded to “Hold” at Zacks Investment Research
Crown Crafts, Inc. (NASDAQ:CRWS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Crown Crafts, Inc. operates, both directly and indirectly through its subsidiaries, in two principal business segments within the textile industry: Adult Home Furnishing and Juvenile Products, and Infant Products. Adult Home Furnishing and Juvenile Products consists of Bedroom Products, Throws and Decorative Home Accessories, and Juvenile Products. The Infant Products segment consists of infant bedding, bibs, infant soft goods and accessories. “
A number of other equities research analysts also recently weighed in on CRWS. Roth Capital set a $9.00 target price on Crown Crafts and gave the company a “buy” rating in a report on Saturday, June 17th. TheStreet downgraded Crown Crafts from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Finally, FBR & Co reaffirmed a “mkt perform” rating and issued a $7.00 target price on shares of Crown Crafts in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Crown Crafts currently has a consensus rating of “Buy” and an average price target of $7.56.
Crown Crafts (NASDAQ:CRWS) traded up 1.61% during trading on Friday, reaching $6.30. The company’s stock had a trading volume of 8,652 shares. The company’s 50 day moving average price is $5.95 and its 200-day moving average price is $7.22. Crown Crafts has a 1-year low of $5.40 and a 1-year high of $10.24. The stock has a market cap of $63.36 million, a P/E ratio of 12.86 and a beta of 0.47.
Crown Crafts (NASDAQ:CRWS) last issued its earnings results on Thursday, August 10th. The textile maker reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $13.65 million for the quarter, compared to the consensus estimate of $13.49 million. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. Equities analysts forecast that Crown Crafts will post $0.58 earnings per share for the current fiscal year.
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In other news, Director Donald R. Ratajczak acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $5.75 per share, with a total value of $28,750.00. Following the acquisition, the director now directly owns 125,151 shares in the company, valued at approximately $719,618.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 14.17% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bard Associates Inc. increased its stake in Crown Crafts by 0.5% in the second quarter. Bard Associates Inc. now owns 181,070 shares of the textile maker’s stock valued at $1,258,000 after buying an additional 950 shares during the period. Synovus Financial Corp increased its stake in Crown Crafts by 2.4% in the second quarter. Synovus Financial Corp now owns 110,463 shares of the textile maker’s stock valued at $768,000 after buying an additional 2,600 shares during the period. WCM Investment Management CA increased its stake in Crown Crafts by 0.8% in the second quarter. WCM Investment Management CA now owns 297,953 shares of the textile maker’s stock valued at $2,071,000 after buying an additional 2,335 shares during the period. North Star Investment Management Corp. increased its stake in Crown Crafts by 20.9% in the second quarter. North Star Investment Management Corp. now owns 423,272 shares of the textile maker’s stock valued at $2,942,000 after buying an additional 73,206 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in Crown Crafts during the first quarter valued at $154,000. 42.20% of the stock is currently owned by institutional investors.
Crown Crafts Company Profile
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc and Hamco, Inc, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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