Crown Crafts Inc. (CRWS) Rating Lowered to Sell at Zacks Investment Research
Crown Crafts Inc. (NASDAQ:CRWS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Separately, Wunderlich cut Crown Crafts from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.50 to $7.00 in a research note on Thursday, November 17th.
Crown Crafts (NASDAQ:CRWS) opened at 8.00 on Tuesday. Crown Crafts has a 1-year low of $7.50 and a 1-year high of $10.24. The stock’s 50 day moving average is $9.66 and its 200-day moving average is $9.74. The firm has a market capitalization of $80.23 million, a PE ratio of 12.50 and a beta of 0.85.
Crown Crafts (NASDAQ:CRWS) last released its earnings results on Wednesday, November 16th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.06. Crown Crafts had a net margin of 8.34% and a return on equity of 15.80%. The business had revenue of $15.80 million for the quarter, compared to analysts’ expectations of $20.10 million. Equities research analysts forecast that Crown Crafts will post $0.57 EPS for the current year.
Several large investors have recently made changes to their positions in the stock. North Star Investment Management Corp. boosted its stake in shares of Crown Crafts by 2.9% in the second quarter. North Star Investment Management Corp. now owns 129,172 shares of the company’s stock valued at $1,222,000 after buying an additional 3,629 shares during the last quarter. WCM Investment Management CA boosted its stake in shares of Crown Crafts by 0.9% in the second quarter. WCM Investment Management CA now owns 269,733 shares of the company’s stock valued at $2,552,000 after buying an additional 2,335 shares during the last quarter. LSV Asset Management boosted its stake in shares of Crown Crafts by 19.9% in the second quarter. LSV Asset Management now owns 43,422 shares of the company’s stock valued at $410,000 after buying an additional 7,200 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Crown Crafts by 12.1% in the second quarter. Nationwide Fund Advisors now owns 32,392 shares of the company’s stock valued at $306,000 after buying an additional 3,500 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Crown Crafts by 12.0% in the second quarter. Vanguard Group Inc. now owns 242,924 shares of the company’s stock valued at $2,298,000 after buying an additional 25,952 shares during the last quarter. 46.86% of the stock is owned by institutional investors and hedge funds.
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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