Crown Crafts, Inc. (CRWS) Upgraded by Zacks Investment Research to “Buy”
Crown Crafts, Inc. (NASDAQ:CRWS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $7.25 target price on the textile maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.69% from the stock’s previous close.
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. “
Other research analysts have also recently issued reports about the company. FBR & Co raised Crown Crafts from a “neutral” rating to a “buy” rating and raised their target price for the stock from $7.00 to $7.50 in a research report on Friday, August 11th. Roth Capital set a $9.00 target price on Crown Crafts and gave the stock a “buy” rating in a research report on Saturday, June 17th. Finally, TheStreet cut Crown Crafts from a “b-” rating to a “c+” rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.69.
Shares of Crown Crafts (NASDAQ:CRWS) traded up 0.77% during trading on Friday, hitting $6.55. 21,929 shares of the company’s stock were exchanged. The stock has a market cap of $65.87 million, a PE ratio of 13.37 and a beta of 0.42. The stock’s 50-day moving average price is $6.04 and its 200-day moving average price is $7.12. Crown Crafts has a 1-year low of $5.40 and a 1-year high of $10.24.
Crown Crafts (NASDAQ:CRWS) last released its quarterly earnings data on Thursday, August 10th. The textile maker reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. The company had revenue of $13.65 million for the quarter, compared to analysts’ expectations of $13.49 million. On average, equities analysts expect that Crown Crafts will post $0.58 earnings per share for the current fiscal year.
In other news, Director Donald R. Ratajczak bought 5,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $5.75 per share, with a total value of $28,750.00. Following the completion of the transaction, the director now owns 125,151 shares of the company’s stock, valued at approximately $719,618.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 14.17% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in Crown Crafts by 3.3% in the first quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock worth $7,439,000 after purchasing an additional 28,400 shares during the last quarter. North Star Investment Management Corp. boosted its position 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 worth $2,942,000 after purchasing an additional 73,206 shares during the last quarter. Vanguard Group Inc. boosted its position in Crown Crafts by 0.5% in the second quarter. Vanguard Group Inc. now owns 380,694 shares of the textile maker’s stock worth $2,627,000 after purchasing an additional 1,706 shares during the last quarter. WCM Investment Management CA boosted its position 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 worth $2,071,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Crown Crafts by 5.7% in the first quarter. Royce & Associates LP now owns 209,900 shares of the textile maker’s stock worth $1,732,000 after purchasing an additional 11,400 shares during the last quarter. 41.87% of the stock is currently owned by institutional investors and hedge funds.
About Crown Crafts
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc, Hamco, Inc and Carousel Designs, LLC, 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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