Crown Crafts, Inc. (CRWS) Stock Rating Lowered by 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 Tuesday.
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. “
CRWS has been the subject of a number of other reports. FBR & Co reissued a “mkt perform” rating and issued a $7.00 price objective on shares of Crown Crafts in a report on Tuesday, July 11th. TheStreet lowered Crown Crafts from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Finally, Roth Capital set a $9.00 price objective on Crown Crafts and gave the stock a “buy” rating in a report on Saturday, June 17th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $7.69.
Shares of Crown Crafts (CRWS) traded up 1.15% during mid-day trading on Tuesday, hitting $6.60. The company had a trading volume of 12,329 shares. The firm has a market capitalization of $66.38 million, a P/E ratio of 13.47 and a beta of 0.39. The firm has a 50-day moving average price of $6.50 and a 200 day moving average price of $6.90. Crown Crafts has a 12 month low of $5.40 and a 12 month high of $10.24.
Crown Crafts (NASDAQ:CRWS) last issued its quarterly earnings data on Thursday, August 10th. The textile maker reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. The business had revenue of $13.65 million during the quarter, compared to analyst estimates of $13.49 million. On average, equities research 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 purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $5.75 per share, with a total value of $28,750.00. Following the purchase, the director now owns 125,151 shares in the company, valued at approximately $719,618.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Crown Crafts by 3.3% during the 1st quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock valued at $7,439,000 after purchasing an additional 28,400 shares in the last quarter. North Star Investment Management Corp. boosted its stake in Crown Crafts by 20.9% during the 2nd quarter. North Star Investment Management Corp. now owns 423,272 shares of the textile maker’s stock valued at $2,942,000 after purchasing an additional 73,206 shares in the last quarter. Vanguard Group Inc. boosted its stake in Crown Crafts by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 380,694 shares of the textile maker’s stock valued at $2,627,000 after purchasing an additional 1,706 shares in the last quarter. WCM Investment Management CA boosted its stake in Crown Crafts by 0.8% during the 2nd quarter. WCM Investment Management CA now owns 297,953 shares of the textile maker’s stock valued at $2,071,000 after purchasing an additional 2,335 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Crown Crafts by 5.7% during the 1st quarter. Royce & Associates LP now owns 209,900 shares of the textile maker’s stock valued at $1,732,000 after purchasing an additional 11,400 shares in the last quarter. 41.87% of the stock is owned by hedge funds and other institutional investors.
Crown Crafts Company Profile
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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