Crown Crafts, Inc. (CRWS) Posts Earnings Results, Meets Expectations
Crown Crafts, Inc. (NASDAQ:CRWS) announced its quarterly earnings data on Thursday. The textile maker reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08, Bloomberg Earnings reports. The business had revenue of $13.65 million during the quarter, compared to the consensus estimate of $13.49 million. Crown Crafts had a return on equity of 14.07% and a net margin of 8.45%.
Shares of Crown Crafts (NASDAQ CRWS) traded up 8.04% during midday trading on Friday, hitting $6.05. The stock had a trading volume of 36,825 shares. The company’s 50-day moving average price is $6.04 and its 200-day moving average price is $7.28. Crown Crafts has a 12-month low of $5.40 and a 12-month high of $10.24. The firm has a market cap of $60.84 million, a price-to-earnings ratio of 11.00 and a beta of 0.47.
CRWS has been the subject of a number of recent analyst reports. FBR & Co reaffirmed a “mkt perform” rating and issued a $7.00 price objective on shares of Crown Crafts in a research report on Tuesday, July 11th. Zacks Investment Research downgraded Crown Crafts from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. TheStreet downgraded Crown Crafts from a “b-” rating to a “c+” rating in a research report on Friday, June 23rd. Finally, Roth Capital set a $9.00 price objective on Crown Crafts and gave the company a “buy” rating in a research report on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Crown Crafts currently has a consensus rating of “Hold” and a consensus price target of $7.94.
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A number of hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. increased its stake in shares of 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 period. Bard Associates Inc. increased its stake in shares of Crown Crafts by 1,659.8% in the first quarter. Bard Associates Inc. now owns 180,120 shares of the textile maker’s stock valued at $1,481,000 after buying an additional 169,885 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Crafts by 3.3% in the first quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock valued at $7,439,000 after buying an additional 28,400 shares during the period. Renaissance Technologies LLC increased its stake in shares of Crown Crafts by 8.4% in the fourth quarter. Renaissance Technologies LLC now owns 287,500 shares of the textile maker’s stock valued at $2,228,000 after buying an additional 22,300 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Crown Crafts by 5.7% in the first quarter. Royce & Associates LP now owns 209,900 shares of the textile maker’s stock valued at $1,732,000 after buying an additional 11,400 shares during the period. 42.18% of the stock is currently owned by institutional investors.
About Crown Crafts
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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