Crown Crafts, Inc. (NASDAQ:CRWS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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. “
CRWS has been the topic of several other reports. FBR & Co reiterated a “mkt perform” rating and issued a $7.00 price objective on shares of Crown Crafts in a research report on Tuesday, July 11th. TheStreet cut shares of Crown Crafts from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Finally, Roth Capital set a $9.00 target price on shares of Crown Crafts and gave the company a “buy” rating in a research note on Saturday, June 17th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.56.
Crown Crafts (CRWS) opened at 6.30 on Friday. Crown Crafts has a 52 week low of $5.40 and a 52 week high of $10.24. The firm has a market capitalization of $63.36 million, a price-to-earnings ratio of 12.86 and a beta of 0.47. The stock’s 50 day moving average is $5.94 and its 200-day moving average is $7.21.
Crown Crafts (NASDAQ:CRWS) last issued its quarterly earnings data on Thursday, August 10th. The textile maker reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ 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 net margin of 7.79% and a return on equity of 13.46%. On average, equities research analysts expect that Crown Crafts will post $0.58 EPS for the current year.
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In related news, Director Donald R. Ratajczak bought 5,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price 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 $719,618.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.17% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $2,627,000 after buying an additional 1,706 shares during the last quarter. Bard Associates Inc. boosted its position 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 last quarter. Synovus Financial Corp boosted its position 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 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 valued at $2,071,000 after buying an additional 2,335 shares during the last quarter. Finally, 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 valued at $2,942,000 after buying an additional 73,206 shares during the last quarter. 42.20% of the stock is currently 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 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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