Crown Crafts Inc. (CRWS) Rating Increased to Hold at Zacks Investment Research
Crown Crafts Inc. (NASDAQ:CRWS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
Shares of Crown Crafts (NASDAQ:CRWS) opened at 10.20 on Thursday. Crown Crafts has a 52-week low of $7.64 and a 52-week high of $10.20. The stock has a market cap of $101.94 million, a P/E ratio of 14.55 and a beta of 0.70. The company has a 50-day moving average of $9.92 and a 200 day moving average of $9.63.
Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. Crown Crafts had a net margin of 8.53% and a return on equity of 17.28%. Equities research analysts forecast that Crown Crafts will post $0.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.32 annualized dividend and a yield of 3.14%. Crown Crafts’s payout ratio is 45.71%.
Hedge funds have recently bought and sold shares of the stock. WCM Investment Management CA raised its stake in Crown Crafts by 0.9% in the second quarter. WCM Investment Management CA now owns 269,733 shares of the company’s stock worth $2,552,000 after buying an additional 2,335 shares in the last quarter. Nationwide Fund Advisors raised its stake in Crown Crafts by 12.1% in the second quarter. Nationwide Fund Advisors now owns 32,392 shares of the company’s stock worth $306,000 after buying an additional 3,500 shares in the last quarter. North Star Investment Management Corp. raised its stake in Crown Crafts by 2.9% in the second quarter. North Star Investment Management Corp. now owns 129,172 shares of the company’s stock worth $1,222,000 after buying an additional 3,629 shares in the last quarter. Raymond James & Associates raised its stake in Crown Crafts by 9.5% in the second quarter. Raymond James & Associates now owns 47,750 shares of the company’s stock worth $452,000 after buying an additional 4,142 shares in the last quarter. Finally, LSV Asset Management raised its stake in Crown Crafts by 19.9% in the second quarter. LSV Asset Management now owns 43,422 shares of the company’s stock worth $410,000 after buying an additional 7,200 shares in the last quarter. Institutional investors own 47.48% of the company’s stock.
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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