Crown Crafts (CRWS) Downgraded by Zacks Investment Research to “Sell”

Crown Crafts (NASDAQ:CRWS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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 research analysts have also recently issued reports on the stock. ValuEngine cut shares of Crown Crafts from a “buy” rating to a “hold” rating in a report on Friday. B. Riley reaffirmed a “buy” rating and issued a $7.50 price target on shares of Crown Crafts in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Crown Crafts presently has a consensus rating of “Hold” and a consensus target price of $7.81.

Shares of Crown Crafts (NASDAQ CRWS) traded down $0.02 on Friday, reaching $7.18. 17,455 shares of the company’s stock traded hands, compared to its average volume of 17,828. The firm has a market capitalization of $71.61 and a P/E ratio of 15.28. Crown Crafts has a 52 week low of $5.40 and a 52 week high of $8.70.

Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings results on Thursday, November 9th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). The company had revenue of $16.46 million during the quarter, compared to analysts’ expectations of $17.08 million. Crown Crafts had a return on equity of 12.93% and a net margin of 7.29%. analysts anticipate that Crown Crafts will post 0.6 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. raised its holdings in shares of Crown Crafts by 4.6% in the fourth quarter. North Star Investment Management Corp. now owns 573,622 shares of the textile maker’s stock worth $3,700,000 after buying an additional 25,368 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 1,706 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Crown Crafts by 7.6% in the third quarter. Synovus Financial Corp now owns 118,863 shares of the textile maker’s stock worth $773,000 after buying an additional 8,400 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Crown Crafts by 185.4% in the third quarter. Nationwide Fund Advisors now owns 40,810 shares of the textile maker’s stock worth $265,000 after buying an additional 26,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Crown Crafts during the third quarter worth $234,000. 42.25% of the stock is owned by institutional investors and hedge funds.

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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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