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 report 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. “
Other equities research analysts have also issued reports about the stock. Roth Capital set a $9.00 price objective on shares of Crown Crafts and gave the company a “buy” rating in a report on Saturday, June 17th. FBR & Co raised shares of Crown Crafts from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $7.00 to $7.50 in a research report on Friday, August 11th. Finally, TheStreet downgraded shares of Crown Crafts from a “b-” rating to a “c+” rating in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $7.69.
Shares of Crown Crafts (NASDAQ:CRWS) opened at 6.45 on Tuesday. Crown Crafts has a 52 week low of $5.40 and a 52 week high of $10.24. The firm has a 50-day moving average of $6.50 and a 200 day moving average of $6.90. The company has a market cap of $64.87 million, a P/E ratio of 13.16 and a beta of 0.39.
Crown Crafts (NASDAQ:CRWS) last issued its quarterly earnings data on Thursday, August 10th. The textile maker reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Crown Crafts had a net margin of 7.79% and a return on equity of 13.46%. The firm had revenue of $13.65 million for the quarter, compared to analyst estimates of $13.49 million. Equities analysts expect that Crown Crafts will post $0.58 EPS for the current fiscal year.
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In other news, Director Donald R. Ratajczak bought 5,000 shares of Crown Crafts stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $5.75 per share, for a total transaction of $28,750.00. Following the purchase, the director now owns 125,151 shares of the company’s stock, valued at $719,618.25. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.17% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CRWS. Goldman Sachs Group Inc. acquired a new stake in shares of Crown Crafts in the 1st quarter worth $154,000. JPMorgan Chase & Co. lifted its stake in shares of Crown Crafts by 3,825.5% in the first quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock valued at $194,000 after purchasing an additional 22,953 shares during the period. Nationwide Fund Advisors acquired a new stake in shares of Crown Crafts in the first quarter valued at about $270,000. Synovus Financial Corp lifted its stake in shares of 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 purchasing an additional 2,600 shares during the period. Finally, Bard Associates Inc. lifted its stake in shares of 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 purchasing an additional 950 shares during the period. Institutional investors own 41.87% of the company’s stock.
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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