Crown Crafts, Inc. (CRWS) Rating Lowered 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 report issued to clients and investors on Wednesday.
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 reaffirmed a “mkt perform” rating and issued a $7.00 target price on shares of Crown Crafts in a report on Tuesday, July 11th. TheStreet cut shares of 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 target on shares of Crown Crafts and gave the stock a “buy” rating in a report on Saturday, June 17th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $7.56.
Crown Crafts (CRWS) remained flat at $6.50 during trading on Wednesday. 476 shares of the stock traded hands. The firm has a market cap of $65.37 million, a price-to-earnings ratio of 13.27 and a beta of 0.42. The firm’s 50 day moving average is $6.02 and its 200-day moving average 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 announced its earnings results on Thursday, August 10th. The textile maker reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Crown Crafts had a net margin of 7.79% and a return on equity of 13.46%. The business had revenue of $13.65 million during the quarter, compared to analysts’ expectations of $13.49 million. Analysts forecast that Crown Crafts will post $0.58 earnings per share for the current year.
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In other news, Director Donald R. Ratajczak purchased 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the director now directly 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 14.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRWS. Bard Associates Inc. raised its holdings in Crown Crafts by 1,659.8% during the first quarter. Bard Associates Inc. now owns 180,120 shares of the textile maker’s stock worth $1,481,000 after purchasing an additional 169,885 shares in the last quarter. North Star Investment Management Corp. raised its holdings in Crown Crafts by 20.9% during 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 in the last quarter. Nationwide Fund Advisors purchased a new position in Crown Crafts during the first quarter worth about $270,000. Wellington Management Group LLP raised its holdings in Crown Crafts by 3.3% during 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Crown Crafts by 3,825.5% during the first quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock worth $194,000 after purchasing an additional 22,953 shares in the last quarter. 41.87% of the stock is owned by hedge funds and other institutional investors.
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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